On June 19th, as the US dollar maintained its strength and markets continued to digest hawkish signals from the Federal Reserve, gold and silver prices weakened once again on Thursday. Spot gold retreated towards $4,214 per ounce, while silver saw a steeper decline. This indicates that non-yielding assets are still under short-term pressure from both interest rate expectations and currency fluctuations.

Looking at market correlations, US stocks showed signs of recovery after recent volatility, but precious metals did not follow suit. This divergence suggests that capital is currently placing greater emphasis on the interest rate path and the position of the US dollar. Particularly after the market's reassessment of the future pace of interest rate cuts, the resistance above gold remains quite pronounced.

If oil prices continue to decline subsequently, inflation expectations may ease marginally, which could provide some cushion for precious metals. However, before real interest rates show a clear downward trend, it will not be easy for gold prices to quickly reclaim key resistance levels. Due to its higher volatility, silver may continue to amplify shifts in market sentiment in the short term.

Looking ahead, trading in precious metals is expected to continue revolving around the strength of the US dollar, Federal Reserve communications, and investor risk appetite. Investors should pay closer attention to price action around key support levels and monitor whether the divergence in performance between gold and silver widens further.

Risk Disclosure: This content is for informational purposes only and does not constitute investment advice. Foreign exchange and precious metals are high-risk products with significant volatility that may lead to loss of principal. Please invest rationally and be aware of the risks involved.