International Gold Market News (June 4, 2026 | Spot Gold: $4,469/oz)

Release time：2026-06-04 Publisher：GINZO

1. Federal Reserve Policy Developments

On June 3, multiple Fed policymakers delivered hawkish remarks, pointing out robust US employment and sticky inflation, leaving room for potential rate hikes within 2026. Per CME FedWatch, odds of a December rate hike climbed to 42%. The US Dollar Index and US Treasury yields advanced sharply, pressuring non-interest-bearing gold; COMEX gold futures closed down 1.27% in the prior session. Market pricing for 2026 rate cuts fell below 20%, restricting gold’s near-term upside momentum.

2. Middle East Geopolitical Risks

US-Iran diplomatic negotiations remain deadlocked while Israel continues military operations across southern Lebanon. Persistent regional turmoil underpins gold’s safe-haven demand as a downside buffer. Still, spiking crude prices revive broad inflation fears, solidifying market bets on prolonged high US interest rates and capping gold’s rally potential. Ceasefire hopes waver amid intermittent military clashes near the Strait of Hormuz.

3. Global Top Bank Year-End Price Outlooks

UBS: Revised end-2026 gold target down from $5,900 to $5,500/oz; high real yields and a strong US dollar cap short-run prices, whereas ongoing official gold buying offers lasting structural support.
Goldman Sachs: Maintains $5,400 year-end target; projects two Fed rate cuts in H2 plus uninterrupted central bank purchases to turn price dips into buying opportunities.
JPMorgan: Keeps bullish $6,300 year-end forecast; global de-dollarization trends fuel persistent central bank gold reserve accumulation.
Multiple European & US brokerages predict gold will trade sideways between $4,300–$4,600/oz throughout Q3 2026.

4. Global Central Bank Gold Purchases

Gold has overtaken US Treasuries to become the world’s top foreign reserve asset. Global central banks posted consistent net gold buying from 2022 through 2025, with robust purchase momentum intact in Q1 2026, effectively preventing drastic gold slumps. China’s central bank has lifted gold reserves for over 18 consecutive months.

5. Capital Flow Overview

Global gold ETFs register steady modest net outflows as institutional capital rotates toward high-yield US dollar-denominated fixed-income assets. Speculative long positioning on COMEX gold futures continues to shrink sequentially.

6. Key Upcoming Event

US Nonfarm Payroll data is due this Friday (June 6). Stronger-than-expected employment readings will drag gold lower; weak payroll figures will trigger a corrective rebound for bullion.

Disclaimer: All information is for reference only, not investment advice.