Gold futures rebounded strongly after last week's price pullback. As of 4:55 PM ET, gold futures for the June 2024 contract surged $27.10, settling at $2,361.80.

The gold futures market experienced a rollercoaster ride this week, reaching historic highs before succumbing to a dramatic selloff.

Gold futures experienced a dramatic selloff over the past two trading days, plummeting by more than $88 per ounce, as the release of the Federal Open Market Committee (FOMC) meeting minutes fueled concerns about a more hawkish Federal Reserve.