Will the price of gold continue to fall?

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新浪财经2026/06/08 23:50

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By:新浪财经

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Will the price of gold continue to fall? image 0

　　Source: China Gold Network

Market participants believe that the possibility of an international gold price decline this week is relatively high. According to this week’s reader poll, 35% of readers are bullish on gold prices, 25% expect consolidation, and 40% are bearish.

Zhou Zhicheng

　　Independent Analyst

International gold and silver prices may fluctuate lower

　　Currently, US inflation has been above the Federal Reserve’s 2% policy target for more than five consecutive years, and economic growth uncertainty has risen significantly. In May, the US non-farm payrolls increased by 172,000, compared to a market forecast of 88,000. The employment figures for March and April were revised up by a total of 93,000, with the employment growth rate over the past three months reaching its strongest in more than two years. The unemployment rate remained unchanged at 4.3%, and average hourly earnings rose 3.4% year-on-year. After the data release, the interest rate swap market priced in a Fed rate hike of about 24 basis points before the October meeting, and about 41 basis points cumulatively by the end of April next year. The probability of a 25 basis point hike within the year is now nearly fully priced in.

From a technical standpoint, resistance levels for international gold prices are at $4,400/ounce, $4,450/ounce, and $4,600/ounce. International

gold price support levels are at $4,260/ounce,

$4,180/ounce,

and $4,100/ounce.

As the US will release May inflation data this week and Middle East geopolitical uncertainty remains high, international gold prices could continue to fluctuate lower. This week, international silver prices are expected to move between the $73.5 to $61.5/ounce

range,

showing a downtrend within the interval.

Hong Jie

　　Certified Senior Gold Investment Analyst

Watching the key support level at $4,100

　　The latest US non-farm payroll data was much better than expected, with 172,000 new jobs added—almost double the market expectation—and the unemployment rate remaining at a low 4.3%. This set of data has caused market expectations for a Fed rate cut to drop sharply, and expectations of high interest rates are again putting pressure on international gold prices. However, geopolitical tensions are still high, so risk-aversion sentiment continues to support international gold prices.

For international gold prices, the $4,130–$4,100/ounce range is the key short-term support. If this is breached, a new round of downside may open up. The $4,500–$4,530/ounce zone is the main resistance, and a short-term breakthrough appears unlikely.

Li Yuefeng

　　Researcher at Beijing Gold Economic Development Research Center

Focus on the impact of US inflation data on gold prices

　　Looking ahead to this week, the market will shift focus to US inflation data. Fed rate hike expectations might further intensify, and international precious metals prices will come under greater pressure. Technically, international gold prices have broken below the 200-day moving average, and a bearish crossover of the 10- and 30-week moving averages signals further downside risk.

Liu Shikai

　　Zhaojin Refinery

International gold prices may continue a weak downward trend

Currently, international gold prices are fluctuating under the repeated impact of geopolitical tensions, with the market gradually moving into a downward trend. The core bearish factor is the better-than-expected US economic performance, leading to intensified rate hike expectations. The safe-haven appeal brought by geopolitical conflicts is diminishing, making it hard to offset the negative impact of monetary policy. Market capital positions show clear divergence; capital is continuously flowing out of gold ETFs, short-term bullish confidence is insufficient, and overall sentiment leans bearish. International gold prices are likely to continue their weak downtrend, with short-term focus on the $4,300/ounce

and $4,100/ounce support levels. For the bearish momentum to reverse, the market will need to see US-Iran tensions ease and the Fed signal a rate cut. The key resistance remains at $4,400/ounce

and $4,600/ounce.

Editor: Zhu Henan

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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