---
title: "Gold Slumped, USMCA Paused, Oracle Drops, and More"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/291558143.md"
description: "Gold prices slumped ~25% to near $4,000/oz amid peace deal hopes with Iran and falling oil. USMCA extension is paused, weakening the Canadian dollar. Oracle shares dropped over $100/share in a month due to selling pressure. Investors are advised to consider faster-growing firms like MongoDB, Datadog, and Elastic with lighter debt loads."
datetime: "2026-07-02T13:50:39.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/291558143.md)
  - [en](https://longbridge.com/en/news/291558143.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/291558143.md)
generator: "portal-rs"
---

# Gold Slumped, USMCA Paused, Oracle Drops, and More

Gold (GLD) is barely holding the $4,000 per ounce level. Prices peaked at the end of January at $5,318. It previously benefited from the weak U.S. dollar (UUP), rising oil prices, and excess demand to hedge against weak currencies.

The gold price continued to “fade” throughout the second quarter. Its roughly 25% decline marks a drop not seen in 13 years. Selling accelerated with each week the U.S. appeared close to a peace deal with Iran. Similarly, between February and June, crude prices also fell. WTI crude falling below $70/bbl marks a level not seen since before the Iran war.

Any trade deal among Mexico, the U.S., and Canada appears increasingly unlikely. The U.S. declined to extend the USMCA for 16 years, starting the countdown to its expiration. Ahead of the expected announcement, the Canadian dollar (FXC) traded at $68.76, near a 52-week low. Weak oil prices also hurt the Canadian currency.

In the technology sector, Oracle (ORCL) shares faded, with continued selling pressure erasing over $100/share in about a month. ORCL stock rallied to over $240 in June. But by June 22, sellers unloaded the stock daily. Oracle closed at $142.50.

Investors may want to consider holding faster-growing firms with lighter or no debt loads. MongoDB (MDB), Datadog (DDOG), and Elastic (ESTC) are worth considering.

### Related Stocks

- [MDB.US](https://longbridge.com/en/quote/MDB.US.md)
- [ORCL.US](https://longbridge.com/en/quote/ORCL.US.md)
- [ESTC.US](https://longbridge.com/en/quote/ESTC.US.md)
- [DDOG.US](https://longbridge.com/en/quote/DDOG.US.md)
- [ORCX.US](https://longbridge.com/en/quote/ORCX.US.md)
- [518850.CN](https://longbridge.com/en/quote/518850.CN.md)
- [DOGD.US](https://longbridge.com/en/quote/DOGD.US.md)
- [GLDW.US](https://longbridge.com/en/quote/GLDW.US.md)
- [GOLD.AU](https://longbridge.com/en/quote/GOLD.AU.md)
- [UGL.US](https://longbridge.com/en/quote/UGL.US.md)
- [GLDM.US](https://longbridge.com/en/quote/GLDM.US.md)
- [USO.US](https://longbridge.com/en/quote/USO.US.md)
- [SGOL.US](https://longbridge.com/en/quote/SGOL.US.md)
- [GLL.US](https://longbridge.com/en/quote/GLL.US.md)
- [IAU.US](https://longbridge.com/en/quote/IAU.US.md)
- [GLD.US](https://longbridge.com/en/quote/GLD.US.md)
- [MDBX.US](https://longbridge.com/en/quote/MDBX.US.md)
- [ORCU.US](https://longbridge.com/en/quote/ORCU.US.md)
- [ORCS.US](https://longbridge.com/en/quote/ORCS.US.md)
- [BNO.US](https://longbridge.com/en/quote/BNO.US.md)
- [UCO.US](https://longbridge.com/en/quote/UCO.US.md)
- [UUP.US](https://longbridge.com/en/quote/UUP.US.md)
- [FXC.US](https://longbridge.com/en/quote/FXC.US.md)
- [ORCL-D.US](https://longbridge.com/en/quote/ORCL-D.US.md)

## Related News & Research

- [GRAPHIC-Gold shows early signs of reclaiming safe-haven appeal after Iran war selloff](https://longbridge.com/en/news/296127032.md)
- [PRECIOUS-Gold holds steady with Fed minutes in focus](https://longbridge.com/en/news/296310600.md)
- [PRECIOUS-Gold retreats as bond yields surge to highest levels in decades](https://longbridge.com/en/news/296241483.md)
- [Oil edges up on uncertainty over exports through Hormuz](https://longbridge.com/en/news/296282399.md)
- [Oil set for second weekly rise as unsettled US-Iran war crimps supply](https://longbridge.com/en/news/296555193.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**