As of April 2, 2026, gold is in a short-term recovery trend and fluctuating at a long-term high. Spot gold nearly reached $4,800 per ounce.

📊 Current Market Overview
- International gold price: Spot gold around $4,760–$4,800 per ounce, recently continuously rising, approaching a key resistance level.
- Domestic gold price: Basic gold price around 1050 RMB/gram, jewelry brands like (Chow Tai Fook, Lao Feng Xiang) approximately 1440–1450 RMB/gram.
📈 Short-term trend: Recovery and correction
Gold prices in March experienced a sharp correction, recently driven by the following factors:
- Weakening US dollar: The USD index declined, reducing the cost of gold purchases for non-USD investors.
- Interest rate cut expectations: The market anticipates the US Federal Reserve may shift towards cutting interest rates due to economic risks, which is beneficial for non-interest-bearing gold.
- Geopolitical conflicts: Although tensions in the Middle East have eased somewhat, there are still many uncertainties, supporting safe-haven demand.
🧭 Medium- and long-term outlook: High volatility
Different organizations have clear differing views on the 2026 trend, with central focus on “Fed policies” and “Central bank gold purchases”:
- Bullish outlook: Goldman Sachs, JPMorgan Chase, and other institutions believe that the trend of central bank gold buying and de-dollarization will continue, with year-end targets reaching $4,900–$5,400 per ounce, potentially even up to $6,000.
- Risk warning: Some analysts warn that if inflation re-emerges and causes the Fed to maintain high interest rates, gold prices could still correct back to $3,800–$4,000.