What lies ahead for the price of gold? A prominent financial analysis platform, Finbold, published a report on Wednesday indicating that as the gold price has fallen below its 2026 opening level of approximately $4,324 per ounce, its advanced AI financial assistant tool is predicting a potential further decline over the next 60 days.

On June 10th, the Finbold AI assistant projected that the gold price could average a decline of 2.68% over the coming two months. Consequently, this AI tool forecasts an average target price of $4,050.2 per ounce by August 9, 2026.

To generate this gold price forecast, the Finbold AI assistant utilized multiple large language models, including Claude Opus 4.6, DeepSeek Chat, and Grok 4.1. The AI tool also incorporated a range of technical indicators such as the Moving Average Convergence Divergence, the Relative Strength Index, and the 50-day and 200-day Simple Moving Averages.

Among the specific model predictions, Claude Opus 4.6 suggested gold could rise by 6.21% during this period to reach $4,420 per ounce. In contrast, Grok 4.1 predicted the asset's price could fall by 7.47% by August 9, 2026, targeting $3,850 per ounce.

Gold Price Analysis and Outlook

The AI's prediction of further potential downside for gold over the next two months follows a continuation of bearish technical signals. Earlier this year, gold reached a record high near $5,598 per ounce before establishing a downward trend.

From a technical analysis perspective, the gold price has been consistently closing below its 200-day moving average. Having breached a significant support level around $4,550 per ounce, the price may now be heading towards the lower boundary of a downward channel.

Therefore, according to analysis shared by former fund manager Aksel Kibar, the gold price could potentially decline towards a target range of $4,098 to $3,800 per ounce. This technical outlook aligns with the AI's forecast for the next 60 days.