World gold prices continue to fall.

At the start of trading on June 2nd, world gold prices rose by more than $60 to over $4,500 per ounce. However, under pressure from profit-taking by investors, the precious metal has now reversed course and fallen sharply.

Global gold prices continue to weaken while oil prices and US stocks rebound. Photo: Reuters .

During the trading session on June 2nd (US time), the price of gold recorded a sharp increase from around $4,471 per ounce to $4,538 per ounce, an increase of more than $60 per ounce. However, under pressure from profit-taking by investors, the price of the precious metal reversed and fell to around $4,463 per ounce.

By the close of trading, the price of this commodity was almost unchanged at $4,487.1 per ounce (+0.07%). Meanwhile, US gold futures closed up 0.3% at $4,519.9 per ounce.

Meanwhile, in the current trading session, the price of the precious metal fell further by $21.7 to $4,465.4 per ounce. This decline wiped out all the gains from the previous session, bringing the price of gold to its lowest point of the week.

Fawad Razaqzada, a market analyst at Forex.com, noted that the current trend in the gold market depends on the movements of oil prices, bond yields, and the US dollar, factors that are directly influenced by the situation in the Middle East.

In other metals markets, spot silver prices rose 0.5% to $75.17 per ounce. Platinum prices increased 0.5% to $1,933.07 per ounce, while palladium gained 0.6% to $1,370.16 per ounce.

In the crude oil market, the global benchmark Brent crude oil price just recorded a 1.15% increase to $97.1 per ounce, while the WTI crude oil price in the US edged up 1.28% to $95 per ounce.

US stock indices also closed the most recent trading session with slight gains. Specifically, the Dow Jones index rose 228.91 points (+0.45%) to 51,307.79 points, the S&P 500 index increased 9.94 points (+0.13%) to 7,609.9 points, while the Nasdaq Composite edged up 7.09 points (+0.03%) to 27,093.9 points.

Not only in the US, but also in Asian markets on June 3rd, Japan's Nikkei 225 index hit a new record high with a 0.91% increase, as investors temporarily set aside uncertainties surrounding negotiations between the US and Iran aimed at ending the conflict in the Middle East.

Similarly, the Topix index in Japan also rose 0.93%. The S&P/ASX 200 index in Australia increased 0.32%.

Meanwhile, Hang Seng index futures (Hong Kong, China) traded at 25,853 points, lower than the most recent closing price. In South Korea, trading is temporarily suspended as the market enters a holiday period.

The contrasting trends between the metals market and the global financial market are linked to the ongoing geopolitical risks in the Middle East.

According to Iranian media, Tehran is considering a deal proposal with the US to end the conflict, but the two sides have not been in contact in recent days. This information comes after US President Donald Trump said negotiations were still ongoing.

However, on the social media platform Truth Social, President Trump wrote: "Fake news reports claiming that the Islamic Republic of Iran and the United States stopped communicating with each other a few days ago are false and completely inaccurate."

Recently, the U.S. Central Command (CENTCOM) announced that its forces had intercepted numerous Iranian ballistic missiles and drones, and conducted defensive strikes following what were described as attack attempts from Tehran. This move indicates that tensions in the Middle East are continuing to escalate.

Senator Rubio also told the US Senate Foreign Relations Committee that within the framework of these discussions, there is "still a possibility" that Iran will negotiate on some aspects of its nuclear program.

The day before, the Iranian state-affiliated Tasnim news agency reported that Iranian negotiators would sever indirect communication channels with the US, and that Tehran would seek to completely close the Strait of Hormuz, a strategic shipping lane that carries most of the world's crude oil.

Source: https://znews.vn/gia-vang-the-gioi-chua-ngung-giam-post1656449.html