Gold prices declined by nearly 2% to $3,262.88 per ounce in spot transactions, marking the lowest level since May. This drop followed an earlier 1% fall to $3,296.89 per ounce. The decline in gold prices is attributed to a recent agreement between the United States and China and reduced tensions in the Middle East, which diminished gold's appeal as a safe-haven asset. Other precious metals also experienced mixed movements: spot silver fell 1.4% to $36.10, platinum dropped 5.3% to $1,341.57, while palladium rose 0.5% to $1,137.92, achieving its second consecutive weekly gain. In the commodities market, hedge funds increased their net long positions in canola seed futures to a record 141,907 contracts valued at $2.0 billion, driven by constrained supplies, decreased competition from Chinese feedstocks, and growing demand linked to U.S. renewable fuel standards. Meanwhile, money managers reduced their net length in Brent crude oil futures and options by 80,577 contracts to 192,598 in the week ending June 24, with long-only positions decreasing by 44,834 and short-only positions rising by 35,743. In agriculture, speculators sold substantial soybean positions due to favorable weather and bearish seasonal trends, while maintaining a small net long position of $1.2 billion across the agriculture complex, favoring meats and oilseeds but holding bearish bets in grains and soft commodities.