6/19 #沃什首秀美联储利率不变 Gold Market**

| Indicator | Value |
|------|------|
| London Gold Spot | $4,209/oz |
| Daily Drop | -1.14% (down for three straight days) |
| Intraday Low | $4,124 (fell below the key support level of $4,200) |
| COMEX Futures | Down more than 3.5%, nearing $4,200 |
| U.S. Dollar Index | 100.83 (one-year high) |
| Domestic AU9999 | 936 yuan/gram (during the Dragon Boat Festival market closure) |

**A New Twist Tonight: US-Iran-Switzerland Talks Canceled**

Yesterday, the narrative was that the U.S.-Iran agreement was a “rate-hike paper tiger,” but today the plot has changed— the in-person technical meeting originally scheduled to take place in Switzerland **has been officially canceled**. The reason is Israel’s continued airstrikes on the southern part of Lebanon, and the Iranian delegation’s response.
This means that while the 60-day negotiation period has started, uncertainty at the implementation level has suddenly risen. What’s even more troublesome is that Israel has opened a new front in Lebanon, clashing fiercely with Hezbollah. Vice President Vance warned Israel, though the enforceability remains in doubt.

**Another Negative Factor: Goldman Sachs Lowers Its Target Price**

Goldman Sachs has cut its year-end gold target price by $500 to $4,900/oz, citing the fact that the Federal Reserve will not cut interest rates in 2026. This directly hits bulls’ confidence.
**Revising Yesterday’s Call**

🪨 Yesterday, it was said that “$4,200 is a short-term iron bottom,” but today it has been broken through— with US-Iran-Switzerland talks canceled + the dollar breaking above 101 + Goldman Sachs lowering its target price, the triple bearish forces are amplifying, and the move is more severe than expected. Still, the underlying logic hasn’t changed: **rate hikes remain a paper tiger**, but in the short term the market is being driven by sentiment, and the $4,000 level has become the next battleground for both bulls and bears.

**Key Support Levels Move Lower**
- Short-term support: $4,000–$4,050 (6/11 low: $4,023)
- Extreme support: $3,900
- Resistance: $4,200 (has shifted from support to resistance)

**Dragon Boat Festival Reminder**: The domestic gold market will be closed from 6/19–21, but the international market will trade as usual. The market may gap at the open on Monday.