As of April 2, 2026, gold is in a short-term rebound and long-term high-level consolidation pattern. Spot gold approaches $4,800 per ounce.

📊 Market Overview

- International Gold Price: Spot gold around $4,760–$4,800 per ounce, recently rising continuously and approaching a key resistance level.
- Domestic Gold Price: Basic gold price approximately 1050 RMB per gram, branded jewelry gold (such as Chow Tai Fook, Lao Feng Xiang) around 1440–1450 RMB per gram.

📈 Short-term Trend: Rebound and Recovery

Gold prices in March experienced a significant correction. Recently, driven by the following factors, they have regained upward momentum:

- Weakening US Dollar: The US dollar index has fallen, reducing the cost of gold purchases for non-dollar holders.
- Rate Cut Expectations: The market bets that the Federal Reserve may shift towards rate cuts due to economic risks, benefiting the non-yielding asset gold.
- Geopolitical Tensions: Although signs of easing have appeared in Middle East tensions, uncertainties remain, supporting safe-haven demand.

🧭 Medium to Long-term Outlook: High Volatility at High Levels

Institutions have divergent views on the trend through 2026, with core logic revolving around “Federal Reserve policies” and “central bank gold purchases”:

- Bullish Views: Institutions like Goldman Sachs and JPMorgan believe that central bank gold purchases and de-dollarization trends will continue, with year-end target prices reaching $4,900–$5,400 per ounce, and some even projecting as high as $6,000.
- Risk Warnings: Some analysts warn that if inflation repeatedly forces the Federal Reserve to maintain high interest rates, gold prices could still fall back to $3,800–$4,000.