Gold is in a confirmed daily downtrend, having shed roughly twenty-eight percent from its January all-time high, with price currently hovering near a significant session pivot level and all key daily moving averages situated materially overhead — the tape remains structurally bearish until it reclaims those averages decisively.
Edition 2026-06-26 · prediction window to Fri 26 Jun 2026 21:00 UTC (22:00 BST)
Catalyst: The June 16–17 FOMC — Chair Kevin Warsh's inaugural meeting — delivered the key macro catalyst: rates held at 3.50%–3.75% for a fourth consecutive meeting, but the dot plot was revised hawkishly to a 3.8% median year-end rate, nine of eighteen officials favoured at least one hike, and the easing bias language was removed entirely. PCE inflation for May was released on 25 June, providing a further data point that markets are assessing for Fed path implications. The University of Michigan June inflation expectations reading is due on 26 June and represents the near-term actionable catalyst for gold.
Data: yahoo
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