Gold price may have found its floor as liquidation gives way to consolidation – Saxo Bank

Kitco07-06 16:46

(Kitco News) - Although gold prices have been unable to break initial resistance above $4,200, one market strategist expects the worst of the selling pressure from the months-long correction may now ...

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Although gold prices have been unable to break initial resistance above $4,200, one market strategist expects the worst of the selling pressure from the months-long correction may now ...</p>\n\n<a href=\"https://www.kitco.com/news/article/2026-07-06/gold-price-may-have-found-its-floor-liquidation-gives-way-consolidation\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"DGP","symbol_name":"二倍做多黄金ETN(PowerShares)","start_time":0,"source_url":"https://www.kitco.com/news/article/2026-07-06/gold-price-may-have-found-its-floor-liquidation-gives-way-consolidation","article_id":"2649673031","we_media_id":null,"thumbnails":[],"rights":{"source":"kitco_highlight","url":"https://www.kitco.com/news/article/2026-07-06/gold-price-may-have-found-its-floor-liquidation-gives-way-consolidation","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2649673031","pubTimestamp":1783327560,"columns":[],"sourceInfo":{"source_id":"kitco_highlight","name":"Kitco"},"weMediaInfo":null,"summary":"(Kitco News) - Although gold prices have been unable to break initial resistance above $4,200, one market strategist expects the worst of the selling pressure from the months-long correction may now b","collect":0,"end_time":0,"defaultTopTitle":"kitco.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"DGP":"二倍做多黄金ETN(PowerShares)","GDXD":"MicroSectors Gold Miners -3x Inverse Leveraged ETN","IAUI":"NEOS Gold High Income ETF","GLL":"2倍做空黄金ETF-ProShares","BTGD":"STKD Bitcoin & Gold ETF","GDXJ":"小型黄金矿业ETF(Market Vectors)","IAUM":"ISHARES GOLD TRUST MICRO","AAAU":"Goldman Sachs Physical Gold ETF","GBUG":"Sprott Active Gold & Silver Miners ETF","USG":"USCF Gold Strategy Plus Income Fund","DBC":"商品指数ETF-PowerShares DB","GDXU":"MicroSectors Gold Miners 3x Leveraged ETN","DULL":"MICROSECTORS GOLD -3X INVERSE LEVERAGED ETN","XME":"金属与采矿指数ETF-SPDR","UYM":"基础材料指数ETF-ProShares两倍做多","PPI":"AXS Astoria Real Assets ETF","SHNY":"MICROSECTORS GOLD 3X LEVERAGED ETN","USD":"ProShares Ultra Semiconductors","CAOS":"ALPHA ARCHITECT TAIL RISK ETF","DUST":"二倍做空黄金矿业指数ETF-Direxion","GLDM":"SPDR Gold MiniShares Trust","GDXY":"YieldMax Gold Miners Option Income Strategy ETF","CEF":"Sprott Physical Gold & Silver Trust","SGDM":"Sprott Gold Miners ETF","GOLY":"Strategy Shares Gold Enhanced Yield ETF","JNUG":"金矿指数二倍做多ETF","RING":"iShares MSCI Global Gold Miners ETF","GLTR":"abrdn Physical Precious Metals Basket Shares ETF","PHYS":"Sprott Physical Gold Trust","UGL":"2倍做多黄金ETF-ProShares","FGDL":"FRANKLIN RESPONSIBLY SOURCED GOLD ETF","GDX":"黄金矿业ETF-VanEck","BEGS":"RAREVIEW 2X BULL CRYPTOCURRENCY & PRECIOUS METALS ETF","JDST":"金矿指数二倍做空ETF","DZZ":"德银黄金两倍做空ETN","BAR":"GraniteShares Gold Shares","FT":"富兰克林通用信托","EQRR":"ProShares Equities for Rising Rates ETF","OUNZ":"VanEck Merk黄金股票基金","PICK":"iShares MSCI Global Metals & Mining Producers ETF","RULE":"Adaptive Core ETF","BAMA":"Brookstone Active ETF","VTV":"Vanguard Value ETF","CGDV":"Capital Group Dividend Value ETF","IAU":"黄金信托ETF-iShares","GOAU":"U.S. Global GO GOLD and Precious Metal Miners ETF","SGOL":"Abrdn Gold ETF Trust","HIDV":"AB US HIGH DIVIDEND ETF","CLIX":"ProShares Long Online/Short Stores ETF"},"translate_title":"随着清算让位于整合，金价可能已经找到了底部——盛宝银行","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GDXD":0.9,"GLDM":0.9,"DGP":0.9,"DUST":0.9,"PHYS":0.9,"RING":0.9,"VTV":0.88,"OUNZ":0.9,"GOLY":0.9,"FT":0.88,"SHNY":0.9,"SGOL":0.9,"GLTR":0.9,"GBUG":0.9,"SGDM":0.9,"1OZmain":0.9,"USD":0.77,"UGL":0.9,"CLIX":0.66,"HIDV":0.88,"UYM":0.9,"GDXJ":0.9,"BEGS":0.9,"JNUG":0.9,"GDXU":0.9,"CAOS":0.66,"FGDL":0.9,"DULL":0.9,"PICK":0.9,"GDXY":0.9,"IAUM":0.9,"DZZ":0.9,"BAMA":0.88,"GLL":0.9,"CGDV":0.9,"GOAU":0.9,"GDX":0.9,"BTGD":0.9,"AAAU":0.9,"USG":0.9,"JDST":0.9,"RULE":0.88,"CEF":0.9,"XME":0.9,"DBC":0.9,"IAU":0.9,"BAR":0.9,"EQRR":0.9,"IAUI":0.9,"PPI":0.9},"content_text":"(Kitco News) - Although gold prices have been unable to break initial resistance above $4,200, one market strategist expects the worst of the selling pressure from the months-long correction may now be over.In his latest precious metals note, Ole Hansen, Head of Commodity Strategy at Saxo Bank, said he believes the price action in the gold market is shifting from liquidation to consolidation and base-building.“The sector has moved from being aggressively bid to selectively accumulated, and the next move will likely depend on whether macro conditions continue to ease or once again turn hostile,” he said in his Monday note.Hansen added that gold continues to be driven by market expectations surrounding U.S. monetary policy. Although markets still expect the U.S. central bank to raise interest rates this year, aggressive forecasts have been pared back following last week’s disappointing employment data, which showed that only 57,000 jobs were created in June.At the same time, gold is also benefiting from optimistic comments from Federal Reserve Chair Kevin Warsh, who emphasized his commitment to price stability and returning inflation to the central bank's target. However, he also said inflation risks had eased in recent weeks since taking over leadership of the Federal Reserve.In a comment to Kitco News, Hansen said he does not expect the Federal Reserve to raise interest rates this year as inflation pressures continue to ease, in line with Warsh’s comments.“Forward inflation expectations have collapsed, so tightening when the reason for tightening is easing with energy prices slumping makes no sense. Once that becomes the general market view, the dollar will soften as a very elevated long gets squeezed while short-end bond yields will move back towards Fed Funds rates,” he said.However, until the Federal Reserve’s policy path becomes clearer, Hansen said gold still has a lot of ground to recover, with prices remaining 26% below January’s highs.“Support below USD 4,000 has held so far, but the rebound towards USD 4,200 last week was met with renewed selling, indicating that some investors are still using strength to reduce exposure. Such price action is typical after a deep correction and helps explain why building a durable market trough can take time,” he said. “On the charts, the 200-day moving average near USD 4,485 represents the first major hurdle. Above that, the 38.2% retracement of the roughly USD 1,650 January-to-June correction sits near USD 4,574. A break above these levels would further improve the technical picture. Until then, the recovery is better viewed as an attempt to build a base.\"Along with growing optimism toward gold, Hansen said he is also encouraged by the recent price action in silver, even though prices on Monday were capped at $63.27 an ounce.“Silver’s latest sell-off was arrested ahead of key support in the mid-USD 50s, with the subsequent rebound taking prices back above USD 60. The move is encouraging, but like gold, silver still has considerable work to do to repair the technical and psychological damage inflicted during the past few months.Silver combines gold’s macro sensitivity with a tighter fundamental backdrop. Multi-year supply deficits and growing industrial demand provide structural support, but the market is much smaller and more flow-sensitive than gold. That makes silver particularly attractive to momentum-driven investors when conditions improve, while also exposing it to sharper liquidation when sentiment reverses,” he said.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.45.2","shortVersion":"4.45.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2649673031","isCrawlerRequest":true}