Weekly Gold Price Movement Summary:

This week, gold generally showed a volatile decline trend, with the overall market being relatively weak. There was a slight rebound and adjustment midway, with the bearish momentum gradually weakening, and support at lower levels becoming more stable, entering a range-bound consolidation phase.
One of the major factors causing the significant volatility in gold is:
1. Federal Reserve Policy Expectations: The market's expectation that the Fed will maintain high interest rates for an extended period has intensified. The May meeting minutes showed that most officials believe inflation resilience exceeds expectations, and the rate cut cycle may be delayed until the end of the year, putting pressure on non-yielding assets like gold.
2. Inflation Data Impact: The latest U.S. PCE data exceeded expectations, reinforcing concerns about high interest rates, and temporarily weakening gold's appeal as a safe haven.
3. Geopolitical Risk Diminishing: Signs of easing in the Middle East situation, progress in U.S.-Iran negotiations, and a cooling of traditional safe-haven demand.
4. Divergence in Institutional Views: Citi and other investment banks have lowered their short-term target prices to $4,300, while Goldman Sachs remains bullish in the medium to long term, expecting to reach $5,400 by the end of the year, with clear market bullish and bearish disagreements.
Affected by market interest rate expectations, gold prices face upward pressure, safe-haven sentiment has cooled, and the trend remains relatively stable with gentle fluctuations. Technically, the short-term trend is weak, with effective support stabilizing the market, and indicators gradually recovering and gathering strength. #黄金 #黄金：