Gold breaks $4,000 as dollar rally pressures metals
(Kitco NewWire) - Spot gold and silver prices are under heavy pressure in early U.S. trading Wednesday, as a stronger U.S. dollar, renewed Fed-rate repricing and easing oil-supply fears continue to weigh against haven demand.
Gold Lower Amid Weak Sentiment
Gold was lower in early Asian trade amid weak sentiment.
China gold imports hit 26-month high in May, up 76% YTD
China's gold imports reached their highest monthly level in over two years in May, with the world's number-one gold market showing a strong appetite for bullion as prices remained 25% below their early 2026 highs.China imported approximately 163 tonnes of gold last month, the largest monthly total since March of 2024, according to the latest customs data released over the weekend. Bullion import volumes year-to-date totaled around 692 tonnes through May, a 76% increase from the same period in 2025.
Comex Gold Settles 1.24% Lower at $4129.90
Gold settled 1.2% lower and silver fell nearly 5.4%, with both metals down for a third-consecutive session.
Deutsche Bank cuts 2026 gold price targets to $4,300/oz for Q3, $4,800/oz in Q4 as investor demand drops
Demand for gold continues to evaporate as investors grow more concerned about the Fed's monetary policy outlook, necessitating a reduction of around 20% to gold price targets for the second half of 2026, according to Michael Hsueh, research analyst at Deutsche Bank.“Fed repricing, together with resilient US macro data, has played the primary role in pushing gold lower,” Hsueh wrote in a research note published Tuesday.
Spot gold rises from session lows as flash S&P composite PMI improves to 52.2
The gold market is rising off of its earlier session lows after the latest U.S. data showed the services and manufacturing sectors improving beyond expectations this month.S&P Global reported on Tuesday that its flash Composite Purchasing Managers Index (PMI) rose to 52.2 in June, up from May's reading of 51.5. The number was above expectations, as economists had forecasted a reading of 50.8.
Gold and silver tumble as rate-hike fears hit precious metals
Gold and silver slipped on Tuesday, following global tech stocks lower after rate hike fears spooked markets. Since the outbreak of the U.S.-Iran war on Feb. 28, gold's reputation as a "safe haven" asset in times of turmoil has come under pressure.
Gold Falls; Macro Challenges to Persist in Near Term
Gold fells in Asian trading as the precious metal faces near-term challenges.
Bank of America says gold can still hit $6,000, just not anytime soon
The Federal Reserve's new tightening bias has created significant hurdles for the gold market, forcing one bank to curb its bullish enthusiasm for the time being.
Gold Just Dropped $68. Peter Schiff Says That's Your Buy Signal.
Peter Schiff told listeners of The Peter Schiff Show Podcast that the sharp pullback in gold is an entry point, not an exit.
Gold rebounds above $4,200 as markets weigh Fed hike risk, Iran progress - Kitco AM Report
Spot gold and silver prices are higher in early U.S. trading Monday, as oil prices fell on progress in U.S.-Iran negotiations and traders balanced lower energy-risk premiums against the Federal Reserve's hawkish June signal.
Gold Rises; Direction Seen Led by Geopolitics, Monetary Policy
Gold gained in early Asian trade. The precious metal is likely to remain sensitive to geopolitical issues and evolving expectations around monetary policy, said Exness.
