Gold Morning Report | June 8, 2026

① Core Data
Table
Commodity Price 24h Change
International Gold Price (USD/Ounce) $4,329 -$146.4 (-3.27% vs last Friday)
COMEX Gold Futures — —
Domestic Gold Price (AU9999) 950 RMB/gram Flat
Gold Recycling Price 931 RMB/gram —
Silver $67.30 -8.86%
Platinum $1,797.90 -5.37%
Weekly Total Decline: approximately -4.9%, the largest weekly drop since March 20. Year-to-date almost flat (YTD +0.03%).
② Major Events from Last Night and This Morning
Technical Bear Market Confirmed: International gold price at $4,329, down over $1,200 from the early-year high of $5,594, a decline of over 22%, entering the technical bear market zone.
Domestic Market Temporarily Stabilized: After consecutive plunges, last Friday’s sharp decline in domestic gold prices, today’s Asian session shows temporary stabilization, brand gold jewelry quotes range from 1118–1325 RMB, wholesale 999 pure gold in Shibei at 1118 RMB/gram.
Domestic Banks Tighten Margin Requirements: Starting June, the five major banks will uniformly raise the margin requirement for precious metals deferred transactions to 120% (reducing leverage), implicitly signaling risk.
Divergent Institutional Target Prices:
Citibank: Bearish to $4,300
UBS: Year-end target $5,500 (down from $5,900)
Goldman Sachs: Maintain $5,400
Deutsche Bank: $4,800
Wells Fargo: Long-term target of $8,000
Chinese Central Bank Continues Accumulation: End of May foreign exchange reserves hit a new high since 2015, gold reserves have increased for 19 consecutive months, with a 320k-ounce increase month-over-month in May.
③ Core Judgments
Trend Analysis: Short-term bearish, long-term bullish, $4,300 temporarily stabilizes
Resistance Level: $4,400–$4,450 (must recover this week to be considered stable)
Key Support: $4,300 (psychological level, currently supported)
Bull-Bear Divide: $4,360 has been broken
Core Focus Points This Week:
June 11 (Wednesday): US CPI data release
June 17–18: Federal Reserve FOMC meeting (most critical turning point)
④ Strategy Reference
Table
Direction Strategy Remarks
Short-term Buy low and sell high within $4,300–$4,400 range Strict stop-loss, avoid chasing rallies or panic selling
Mid-term Maintain light positions before the FOMC meeting Wait for clear direction before increasing positions
Physical Gold Long-term holding logic remains unchanged, central bank continues to increase holdings Consider phased accumulation on dips
Risk Warning If CPI data this week exceeds expectations again, rate hike expectations will intensify Overall high pressure in June, focus on risk control
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