Gold has entered a phase of consolidation, trading near $4,500 an ounce — roughly 20% below its early-2026 peak of about $5,600 — after one of the most extraordinary runs in the metal's history.
From records to range
After setting a long series of record highs into early 2026, gold corrected meaningfully through the spring. Analysts expect it to trade within roughly $4,186 to $4,933 in June, with prices potentially around $4,516 by month-end.
Structural support
Even after the pullback, structural drivers remain intact: central-bank buying, persistent inflation, geopolitical risk and questions over Federal Reserve independence continue to underpin demand.
Sources: LiteFinance, Kavout.