International Gold Price Hovers Around $4000, Institutions State that Stabilization Above $4100 is Needed to Confirm the Bottom

BlockBeats News, June 30th, the international spot gold price continued to fluctuate around $4000 per ounce, dropping to as low as $3943.66 during the session, hitting a new low for 2026, and then rebounding to around $4030. Data shows that the international gold price has fallen by about 13% this quarter, marking the largest quarterly decline since the second quarter of 2013.

Ole Hansen, Head of Commodity Strategy at Saxo Bank, stated that after the gold price fell below $3960 last week, the bears failed to further expand the decline. Coupled with the easing of inflation concerns due to the drop in oil prices and short-covering, this pushed the gold price back above $4000. However, he believes that gold needs to firmly hold above $4100 to confirm that a temporary bottom has been formed.

Moreover, Ipek Ozkardeskaya, Senior Analyst at Swissquote Bank, also considers $4000 a key support level and indicates that the downside risk remains unresolved until reclaiming $4115. If the downtrend continues, the next target could be around $3680.

Additionally, Jay Kaeppel, a researcher at Sentimentrader, pointed out that based on historical seasonal patterns, the period from late June to early September is usually a relatively strong time window for gold performance, providing some short-term support for the gold price.