On June 29, 2026, gold dropped $32 to $4,065 per ounce, falling below its 200-day moving average for the first time since October 2023. Oil prices surged past $110, fueling inflation and dampening hopes for rate cuts. Morgan Stanley still targets $5,200, suggesting this is a correction, not a reversal. Join our free Telegram channel for daily updates at news.goldmarket.pro. Start trading gold with our AI assistant at chat.goldmarket.pro.