GOLD Has Reached the Support Level
Hello everyone! Today i want to share some macro analysis with you!
Gold opened slightly lower on Monday, June 1, 2026, falling as much as 0.48% to around $4,518 per ounce, as market sentiment briefly cooled. The previous weekend's lack of a clear breakthrough in US-Iran peace talks, coupled with the continued advance of Israeli troops into southern Lebanon, further exacerbated international concerns about the Middle East situation spiraling out of control. Meanwhile, US crude oil opened nearly 2% higher, surging over 3% to above $90 per barrel at one point. The rebound in energy prices directly boosted inflation expectations and strengthened the pressure on the Federal Reserve to maintain high interest rates or even raise them, becoming the main reason for the short-term pressure on gold prices.
However, focusing solely on Monday's slight pullback is clearly insufficient. Looking at Friday's strong rebound of over 1%, reaching a high of $4,595 per ounce, gold still demonstrates strong resilience at high levels. Although May saw a monthly decline due to inflation and interest rate hike expectations, June presents a complex yet opportunity-filled trading environment, driven by geopolitical tensions, a period of concentrated economic data releases, and uncertainty surrounding the Federal Reserve's policy path. Gold prices have now recovered from their earlier losses and rebounded to around the $4,540 level. $XAU/USD(XAUUSD.FOREX)$$Gold - main 2608(GCmain)$
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