Multiple bearish signals converge! Bank of America warns: Gold’s downtrend is far from over, potentially falling toward $3,315

① Bank of America’s technical strategist warned that gold still has significant room for correction this year; ② If the current pullback follows the historical patterns of the three previous major bear markets in gold, downside risks point to $3,315; ③ Bank of America proposed a phased buying strategy, recommending moderate position establishment below $4,000 and completing full allocation within the $3,450–$3,250 range.

cls.cn11:02

Gold Falls Below $4,000! Bank of America Urges 'Buy the Dip' but Warns 'Pullback May Not Have Bottomed Yet'

Amid heightened Middle East tensions pushing up oil prices and rising U.S. Treasury yields, market concerns over inflation and the interest rate outlook intensified again, sending gold futures below $4,000 per ounce on Thursday to their lowest level in over eight months.

Zhitong Finance10:23

Iran is reported to be planning to open a front at the Strait of Mandeb, with Houthi forces already deploying missile-equipped drones on standby.

According to three sources who spoke to Reuters on Thursday, Iran has asked Yemen's Houthi militants to prepare to shut down the Red Sea oil shipping route under specific conditions: if the United States attacks Iran's power infrastructure, the Houthis would take action at the Bab el-Mandeb Strait. This arrangement has been discussed within Iran's top leadership bodies and has already been communicated to the Houthi group.

Golden10 DataJul 16 21:00

U.S. June 'terrifying data' edged up slightly month-over-month, while the labor market remained resilient.

U.S. retail sales rose modestly by 0.2% month-over-month in June, falling short of expectations due to downward pressure from lower oil prices, but core consumer spending remained robust, supported by e-commerce promotions and major sporting events.

Golden10 DataJul 16 20:56

As gold prices battle around the $4,000 mark, Fidelity International declared: 'The gold bull market won’t end until fiscal discipline returns,' and is selectively repositioning to overweight.

Beyond short-term volatility and sentiment swings, some large institutional investors with long-term horizons are planning their allocations from a longer-term perspective. Ian Samson, multi-asset portfolio manager at Fidelity International, recently revealed that Fidelity is considering returning to an overweight position in gold—the only question being timing.

Zhitong FinanceJul 16 15:06

Wash: AI pushes up prices but not necessarily inflation; no inflation metric is precise, and Trump has not attempted to interfere with the Federal Reserve.

Worshe acknowledged that June CPI and PPI data showed improvement, but noted that inflation indicators do not perfectly reflect underlying inflationary conditions. He stated that one-off price changes do not necessarily lead to sustained inflation, and emphasized that the inflationary impacts of AI and external conflicts are fundamentally different when viewed through the lens of market supply-side responses. The AI boom has already driven up prices for chips and other components, and prices could rise further over the next 12 months; whether this evolves into broader inflation will depend on the Federal Reserve's actions. He added that he has 'repeatedly' told Trump that he is independent, that Trump has never asked him to do anything improper, and that if such a request were ever made, he would not comply.

wallstreetcnJul 16 03:09