Shenchao TechFlow message: On June 06, driven by strong U.S. employment data, the market generally expects the Federal Reserve may raise interest rates this year, putting pressure on the gold market and causing gold to fully give back all of its gains since the beginning of this year. During the U.S. trading session, spot gold fell by about 3.5%, breaking below $4,320 per ounce and failing to continue this year’s uptrend. At the same time, both bond yields and the U.S. dollar exchange rate rose. Currently, the strong performance of the labor market gives the Federal Reserve room to raise interest rates, but tensions in the Middle East have pushed energy prices higher. Rising interest rates typically weigh on non-yielding precious metals.