Inflation concerns and rising expectations of interest rate hikes have briefly increased the probability of gold reaching $3,400/ounce by the end of June to 38%.

Odaily Seer's monitoring shows a significant increase in the probability of gold reaching $3,400/oz by the end of June. The current probability is 38%, compared to an average of 11.6% over the past 7 days. Gold prices plunged as much as 8% on Monday, erasing all gains for the year and marking its ninth consecutive day of decline, influenced by escalating Middle East conflicts, inflation concerns, and rising expectations of global interest rate hikes. Last week, gold experienced its largest weekly drop since 1983. Odaily Seer continues to monitor the forecasting market, seeing changes before they are priced in.