Gold at $4,000: Bulls and bears battle after worst quarter in 13 years
Key Facts
After posting its worst quarterly performance in 13 years, gold is currently trading around the $4,000 per ounce level, reflecting a fierce battle between bulls and bears. According to market reports, this psychological level is experiencing conflicting pressures in the absence of a clear catalyst to determine the next direction for the precious metal.
This trading comes after gold lost nearly 12% of its value in the quarter ended June 2026, influenced by a stronger dollar and rising U.S. bond yields, according to macroeconomic data. Silver, another precious metal, posted a similar performance, falling below $30 an ounce (per market data).
Traders are now focusing on upcoming U.S. inflation data, particularly the PCE index, which could determine the Fed's monetary policy path. If policy tightening continues, gold may face further pressure, while a slowdown in inflation could boost the metal by increasing the odds of rate cuts.
Latest Updates · 2
- Notable·
Update: Gold continues to trade around $4,000 as markets shift focus to upcoming US-Iran nuclear negotiations and the July nonfarm payrolls report. Traders are watching whether geopolitical tensions will boost safe-haven demand or if stronger employment data could strengthen the dollar, adding downward pressure.
- Notable·
Update: In a new development, Goldman Sachs issued a bullish forecast for gold, projecting the price to reach $4,900 per ounce in 2026, driven by strong central bank demand. Samantha Dart, co-head of global commodities research at Goldman Sachs, said in a research note: 'Gold is not done.' This forecast may add positive momentum to the precious metal currently trading at $4,000.