#TradFi交易分享挑战 Gold prices have fallen for two consecutive weeks, are you panicking? Wall Street collectively changes its stance, lowering the forecast to $4,300!

Spot gold once fell below $4,400 per ounce, and Wall Street began to change its tone collectively... Gold prices have declined for two weeks in a row, nearly 20% lower than at the beginning of the year. In the fourth week of May, gold continued to weaken. On May 28, it broke through the $4,400 per ounce level intraday, with a decline of 1.86%.

Throughout May, spot gold has recorded two consecutive weeks of decline, with a total drop of nearly 3% for the month. Since reaching a historic high of nearly $5,600 per ounce at the beginning of the year, the gold price has retraced nearly 20%.

Since May, the international gold market has continued its volatile downward trend, with the price center constantly shifting lower. Market analysis generally believes that this round of gold adjustment is not an isolated event, but the result of macro policy expectations, capital flows, and geopolitical logic jointly influencing each other.

Wall Street has already collectively changed its stance, re-pricing gold.

The latest to change stance is Citibank, which publicly stated that in the short term, gold will weaken, predicting that the gold price will reach $4,300 per ounce within the next three months. The institution believes that once the US and Iran successfully reach a cooperation consensus and shipping order fully recovers, and international oil prices return to pre-conflict levels, market inflation expectations will quickly weaken, real interest rates will rise accordingly, and this will put pressure on gold prices.

However, Citibank is not turning completely pessimistic about the medium-term gold market, maintaining a target price of $5,000 per ounce for the next 6 to 12 months. The "short cold, long hot" logic of judgment is also the most distinctive common feature of this round of collective shifts by investment banks.

At the end of April, Morgan Stanley was the first to cut its gold price expectations, lowering its target for late 2026 to $5,200 per ounce, well below the previous forecast of $5,700. The reason given by the institution is that geopolitical friction has led to rising real interest rates, and the Federal Reserve's rate cuts have been delayed, causing the classic negative correlation between gold and real interest rates to return to normal.

JPMorgan has revised its 2026 average gold price forecast from $5,708 per ounce to $5,243, and in the report, it mentioned that the total holdings and trading volume of COMEX gold futures remain sluggish, with hedge fund net futures positions lingering at low levels, and ETF fund inflows are also relatively weak. $XAUUSD