The Zhitong Finance App learned that the 2026 gold market is an extreme test of traders' psychological tolerance. From a ten-year high of more than 5,300 US dollars per ounce at the beginning of the year to a sharp fall of around $4,000, to a violent rise of more than 9% over the past two weeks back above $4,400 — gold completed a dramatic reversal from the “collapse of faith” to “the return of the king” within half a year. Last week, gold recorded its best weekly performance since January, while gold mining stocks recorded their strongest five-day gain since 2008. Behind the apparently strong rebound, the long and short sides are playing a fierce game over the Federal Reserve's policy path, geographical risk, and global central bank money purchases.

The Zhitong Finance App learned that the 2026 gold market is an extreme test of traders' psychological tolerance. From a ten-year high of more than 5,300 US dollars per ounce at the beginning of the year to a sharp fall of around $4,000, to a violent rise of more than 9% over the past two weeks back above $4,400 — gold completed a dramatic reversal from the “collapse of faith” to “the return of the king” within half a year. Last week, gold recorded its best weekly performance since January, while gold mining stocks recorded their strongest five-day gain since 2008. Behind the apparently strong rebound, the long and short sides are playing a fierce game over the Federal Reserve's policy path, geographical risk, and global central bank money purchases.