Li Gang, research director of the China Foreign Exchange Investment Research Institute, said that the price of gold may continue to decline inertia. The key point to pay attention to is in the range of 3,500 US dollars to 3,600 US dollars, and the domestic gold price may drop to around 800 yuan/gram. Previously, international gold prices fell below 3,900 US dollars/ounce, while domestic gold prices fell below the 810 yuan mark at the same time. Li Gang pointed out that this round of falling gold prices is a herd effect. In an environment where global monetary policies tend to be tightened, market investment sentiment tends to be cautious, making more use of the policy cycle to select better assets. With the rise in US bond yields, more capital is flowing back into the US market or holding coins to wait and see, and there is not much room for the gold price to rise. However, the current premium and price decline of gold are not conducive to investors investing in physical gold.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.