Weekly Commodities Fundamental Report – 16 June 2023

Gold: Gold prices in the recently concluded week ended on a flat note, as it traded near to 3-month lows. Gold prices experienced a downward trend during the week due to a stronger dollar and hints of interest rate hikes by the US Federal Reserve. The increase in US Treasury yields and the strengthening of the currency made gold more expensive for global buyers and less attractive as a zero-yielding investment.