Gold prices have erased all gains for the year, continuing their downward trend in the international market

The price of gold continued to fall during the European trading session on the 10th, following a decline in the Asian session earlier in the day. It briefly dropped below the $4,200 per ounce mark during trading, wiping out all gains made since the beginning of the year. As of 17:15 Beijing time on the 10th, gold futures for August delivery on the New York Mercantile Exchange (NYMEX) stood at $4,188.70 per ounce, a decrease of 2.28%. Based on current prices, international gold prices have accumulated a decline of 3.51% year-to-date. Analysts pointed out that the US non-farm payroll data released last Friday significantly exceeded market expectations, indicating that the fundamentals of the US job market remain resilient. Amid inflation risks driven by the Middle East conflict, the market has recently been increasingly betting that the Federal Reserve's monetary policy path will shift toward raising interest rates in the second half of the year. According to the CME FedWatch Tool, the market currently estimates the probability of the Fed raising interest rates by at least 25 basis points by the end of this year at nearly 70%. Once the Fed begins raising rates, it would weaken the appeal of non-interest-bearing assets like gold. (CCTV Finance)