en.Wedoany.com Reported - Affected by the news of a peace agreement reached between the United States and Iran under Pakistan's mediation, international gold prices surged over 2% at the opening of the Asian trading session on June 15, 2026. London spot gold returned above $4,300 per ounce, with an intraday high of approximately $4,335 per ounce. Domestic brand gold jewelry prices subsequently generally rose to around or above 1,300 yuan per gram. Among them, Chow Sang Sang's pure gold jewelry was quoted at 1,300 yuan per gram, Chow Tai Fook at 1,298 yuan per gram, Luk Fook Jewellery at 1,296 yuan per gram, and Lao Miao Gold at 1,290 yuan per gram, all significantly rebounding from the recent low of about 1,240 yuan per gram on June 11, hitting a recent high.
Since the beginning of 2026, gold prices have experienced sharp fluctuations. On January 29, spot gold hit an all-time high of approximately $5,598 per ounce, then continued to decline, briefly falling below $4,100 per ounce in late April. On June 11, London spot gold broke below the $4,100 mark during trading, hitting a new low for the year. On June 15, after the US and Iran announced the end of military conflict, gold prices quickly surged to the $4,310 to $4,330 range, with New York gold futures rising to $4,356.8 per ounce intraday.
The rebound in gold prices has led to significant divergence among international institutions regarding the future trend. Goldman Sachs maintains a bullish stance, reiterating its year-end 2026 gold price target of $5,400 per ounce, estimating central banks' average monthly gold purchases at about 60 tons, and stating that the medium- to long-term supply-demand dynamics for gold continue to improve. Standard Chartered Bank explicitly stated "overweight gold" in its June global market outlook, maintaining its 3-month and 12-month target prices at $5,200 and $5,500 respectively, stating that gold remains in a "structural bull market." Bank of America reiterated its 12-month gold target of $6,000 and raised its average price forecast for 2026 to $5,093.
JPMorgan Chase, however, lowered its average gold price forecast for 2026 from $5,708 per ounce to $5,243 per ounce, citing weakening short-term demand for gold and persistently low total open interest and trading volumes in COMEX futures. Morgan Stanley lowered its gold price target for the second half of 2026 from $5,700 per ounce to $5,200 per ounce at the end of April. Citigroup lowered its three-month gold target from $4,300 to $4,000, maintaining its 6- to 12-month target of $5,000. BofA Merrill Lynch noted that the gold allocation ratio among global high-net-worth individuals remains low, and if private investors follow suit, it could become a catalyst for the next round of gains. The conclusion of the US-Iran peace agreement has alleviated geopolitical risks in the short term, serving as a direct driver for the sharp rebound in gold prices, but market expectations regarding the Federal Reserve's monetary policy direction remain a key variable influencing gold price trends.
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