Gold Market
Deeper looks at the forces setting the gold price.
Chinese retail gold investment totalled 107 tonnes in Q2 2026, down from Q1's record but still the third-highest Q2 since 2010. When adjusted for a 29% rise in the local gold price, it set a new Q2 record.
Gold pulled back in a three-wave move from recent highs. Technical analysis placed support at 4315.86-4261.32, and price reacted higher from that zone. A break above 4450 would confirm the next leg up.
Gold's weekly parabolic Short trend ended after 21 weeks, confirmed at 4432. Historical median gains point to a potential target of 4959 over 15 weeks, though risks remain.
Major gold miners just reported their second-best quarterly results ever, despite gold falling 14.1% in Q2. Near-record profits and a parallel selloff in gold stocks pushed sector valuations to decade lows.