Gold Latest Core News (Main Cause of This Round of Crash)

Recently, gold has been falling sharply, with a concentrated outbreak of core bearish news, completely reversing the previous bullish pattern. First, the hawkish expectations of the Federal Reserve have increased, U.S. employment and inflation data continue to be strong, the market has canceled expectations of interest rate cuts within the year, and even bets on rate hikes. The U.S. dollar and U.S. bond yields have risen simultaneously, significantly raising the holding cost of non-yielding gold, triggering concentrated selling pressure from institutional bulls.

Second, geopolitical risks in the Middle East have cooled down comprehensively, regional conflicts have eased, and market risk aversion has quickly receded. The previous safe-haven premium of gold has completely dissipated, which is an important driver of this round of sharp decline.

At the same time, domestic precious metals regulation has tightened. Multiple banks have raised trading margins and restricted opening positions, and some banks have gradually shut down personal precious metals businesses. Speculative bulls on the exchange were forced to stop losses collectively, amplifying the downward momentum.

The only supporting positive is the continuous gold purchases by central banks. Physical demand keeps the bottom of gold prices, preventing a unilateral crash, but it cannot reverse the short-term downtrend.

In the short term, the market is highly focused on the U.S. PCE inflation data. If the data is strong, it will further consolidate rate hike expectations, and gold prices will continue to be weak; if it cools down, there will be a rebound from oversold levels, which is only a corrective move, and the medium-term bearish pattern remains unchanged.$XAUT $BTC #BTC下探60000美元关键关口