Gold is expected to consolidate with a slight bullish tilt on June 15–16. After falling to a local low last week, the XAUUSD pair managed to find solid footing, thanks to renewed interest from long-term market players.
Central bank demand remains the precious metal’s key pillar of support. According to the World Gold Council’s (WGC) report, net purchases reached 244 tons in the first quarter (Q1) of 2026—well above last year’s averages.
The People’s Bank of China (PBoC) has been accumulating bullion for the longest consecutive streak in modern history. In April, the regulator bought 8 tons—the highest monthly total since December 2024. In May, the pace picked up even further, reaching 10 tons.
China’s gold inventories have just hit a record 2,331 tons. However, it accounts for only about 9% of the nation’s total foreign exchange reserves, compared to a global average of around 27%. This leaves plenty of room for further accumulation, supporting the de-dollarization strategy.
Major banks, such as JPMorgan and Goldman Sachs, keep their annual targets unchanged in the $5,400–$6,000 range, viewing the current correction as an attractive buying opportunity to replenish their stockpiles.
Large speculators are now taking profits in the COMEX gold futures market, but there are no signs of massive withdrawals. The COT report points to a decline in open interest, which is an early signal that the active sell-off has run its course.
CFD data shows that retail sentiment remains moderately optimistic: 58%–65% of traders hold long positions. From a contrarian perspective, this could curb any sharp rally, triggering Stop loss orders below $4,300.
The overall recommendation is to buy gold. Profits should be taken at $4,700. Stop loss could be set at $3,940.
The volume of the open position should be calculated so that the potential loss (protected by a Stop Loss order) does not exceed 1% of your deposit. If your account balance does not allow opening a position of this size, it is better to avoid entering the market on this signal and wait for other trade options that meet low-risk criteria.
This content is for informational purposes only and is not intended to be investing advice.
