Spot Gold Hits 2026 Year-Low of $3,943.66 on June 30, Down 13% in Q2; Stabilization Above $4,100 Needed

According to BlockBeats, spot gold oscillated around the $4,000 per ounce level on June 30, dropping to $3,943.66 intraday—marking a 2026 year-low—before rebounding to approximately $4,030. Gold prices fell 13% in the second quarter, the largest quarterly decline since Q2 2013.

Saxo Bank's head of commodity strategy Ole Hansen stated that after gold fell below $3,960 last week, short positions failed to extend declines further. Combined with declining oil prices easing inflation concerns and short covering, gold rebounded above $4,000. However, Hansen emphasized gold must sustain above $4,100 to confirm a phase-bottom. Swiss IG analyst Ipek Ozkardeskaya identified $4,000 as critical support and noted downside risks remain unresolved until the market reclaims $4,115; further declines could target $3,680.