Gold Falls Again Across Asia on June 12 After Brief Rebound

Gold prices declined on June 12 in Pakistan, UAE and the Philippines following a modest rebound on June 11. The pullback extended a volatile week that began with sharp drops on June 8 driven by a stronger U.S. dollar and higher-for-longer Fed rate expectations. Prices steadied on June 9 before renewed selling on June 10, with local markets tracking international XAU/USD moves and currency fluctuations. Gold remains up roughly 12% year-to-date despite the recent weakness and is set for a second consecutive weekly loss.