FXEmpire
01 Jun 2026, 08:47 UTC · 1h ago
Source · https://www.fxempire.com/forecasts/article/gold-xauusd-silver-price-forecast-gold-tumbles-under-4500-as-silver-tests-support-breakdown-ahead-1601438
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U.S. April CPI data for both headline and core inflation came in above expectations. — Higher than expected inflation reduces the likelihood of near-term Fed rate cuts, which pressures non-yielding assets like gold and silver.
-0.60Gold spot prices have fallen below the $4,500 psychological support level with bearish technical momentum. — Breaking a major psychological support level often triggers further technical selling and signals a shift in short-term sentiment.
-0.40Central banks, including the People’s Bank of China, continue to maintain a strong buying streak for gold. — Persistent official demand provides a fundamental floor that prevents a total collapse in precious metals prices.
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The US-Iran ceasefire remains intact, leading to a normalization of oil flows and a pivot away from safe-haven trading. — Reduced geopolitical tension lowers the 'fear premium' and diminishes the demand for gold as a hedge.
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