The deputy assessed the prospects of gold after the spring correction

June may be a relatively quiet month for the precious metals market, and gold and silver retain the potential for further growth in the long term. Alexey Govyrin, a State Duma deputy and member of the State Duma Committee on Small and Medium-sized Enterprises (United Russia faction), told Izvestia on June 1.

According to the parliamentarian, gold enters June at about $4,500 per ounce after several months of correction and consolidation. He noted that the current pause looks natural after the rapid growth of quotations last year.

"Most analysts expect prices to remain near current levels. The forecast range for the near future ranges from $4,300 to $5,200 per ounce, while the median forecast for the year is around $4.9 thousand," explained Govyrin.

The key event of the month, in his opinion, will be the meeting of the US Federal Reserve System, scheduled for June 16-17. Expectations of lower interest rates have traditionally supported the precious metals market, as they reduce the opportunity cost of owning gold and facilitate the flow of funds into exchange-traded funds.

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According to the deputy, steady demand from central banks of various countries continues to provide additional support to the market.

Speaking about silver, Govyrin stressed that the metal is holding near historical highs — about $ 80 per ounce. This is facilitated by high industrial demand from electronics manufacturers and enterprises in the new energy sector, as well as investor interest in protective assets.

At the same time, the deputy drew attention to the prospects of platinum and palladium. According to him, platinum in the range of $2.6–2.7 thousand per ounce and palladium in the range of $1900-2050 per ounce look undervalued relative to gold, which attracts the attention of some investors.

"For a private investor, June may be a period of quiet accumulation. Precious metals continue to serve as portfolio insurance and retain their growth potential over the long term," concluded Govyrin.

The price of gold futures for delivery in June 2026 on the Comex exchange on April 29 fell below $4,550 per troy ounce for the first time since March 30 this year. As of 16:20 Moscow time, the price of precious metals decreased by 1.34%, amounting to $4,546.8 per troy ounce. Five minutes later, by 16:25 Moscow time, the futures price slowed down the decline. Gold was at $4,547.5 per ounce, which is 1.32% lower than the previous values.