--- title: "Understanding the Market | Gold stocks continue to decline, spot gold once fell below USD 4,150. Both Bank of America and Deutsche Bank expect the Federal Reserve to raise interest rates this year" type: "News" locale: "en" url: "https://longbridge.com/en/news/290502037.md" description: "Affected by the rising expectations of the Federal Reserve's interest rate hikes and several investment banks lowering their gold price targets, gold prices have fluctuated and declined, with spot gold once falling below USD 4,150. Against this backdrop, the gold sector in both A-shares and Hong Kong stocks continued to decline, with individual stocks such as Zijin Mining and SD-GOLD showing significant drops. Bank of America and Deutsche Bank expect the Federal Reserve to raise interest rates three times and two times this year, respectively, while Goldman Sachs has also significantly lowered its gold price target for 2026, leading to a strong bearish sentiment in the market" datetime: "2026-06-23T02:39:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/290502037.md) - [en](https://longbridge.com/en/news/290502037.md) - [zh-HK](https://longbridge.com/zh-HK/news/290502037.md) --- # Understanding the Market | Gold stocks continue to decline, spot gold once fell below USD 4,150. Both Bank of America and Deutsche Bank expect the Federal Reserve to raise interest rates this year According to Zhitong Finance APP, gold stocks continue to decline. As of the time of publication, Zijin Gold International (02259) is down 4.77%, trading at HKD 101.8; Zijin Mining (02899) is down 4.17%, trading at HKD 30.3; Chifeng Gold (06693) is down 4.06%, trading at HKD 25.5; Shandong Gold (01787) is down 3.45%, trading at HKD 19.87; Lingbao Gold (03330) is down 2.6%, trading at HKD 13.47. In terms of news, on June 23, gold prices fluctuated lower, with spot gold briefly falling below USD 4,150. Bank of America stated on Monday that it expects the Federal Reserve to raise interest rates three times, with increases of 25 basis points each in September, October, and December, raising the benchmark rate from the current range of 3.5%-3.75% to 4.25%-4.5%. This is currently the most aggressive interest rate hike expectation among major global investment banks. Deutsche Bank, in a report released on June 19, predicted that the Federal Reserve would raise interest rates twice this year, each time by 25 basis points, occurring in September and December. It is noteworthy that Goldman Sachs previously significantly lowered its gold price target for the end of 2026 to USD 4,900 per ounce, a reduction of up to USD 500. This marks the sixth international bank to downgrade its gold outlook, following Commerzbank, Citigroup, JP Morgan, Morgan Stanley, and ANZ, with Citigroup even lowering its gold price outlook twice within a month ### Related Stocks - [601899.CN](https://longbridge.com/en/quote/601899.CN.md) - [02899.HK](https://longbridge.com/en/quote/02899.HK.md) - [600547.CN](https://longbridge.com/en/quote/600547.CN.md) - [02259.HK](https://longbridge.com/en/quote/02259.HK.md) - [06693.HK](https://longbridge.com/en/quote/06693.HK.md) - [600988.CN](https://longbridge.com/en/quote/600988.CN.md) - [01787.HK](https://longbridge.com/en/quote/01787.HK.md) - [03330.HK](https://longbridge.com/en/quote/03330.HK.md) - [BAC.US](https://longbridge.com/en/quote/BAC.US.md) - [DB.US](https://longbridge.com/en/quote/DB.US.md) - [DBK.DE](https://longbridge.com/en/quote/DBK.DE.md) - [GS.US](https://longbridge.com/en/quote/GS.US.md) - [CBK.DE](https://longbridge.com/en/quote/CBK.DE.md) - [C.US](https://longbridge.com/en/quote/C.US.md) - [JPM.US](https://longbridge.com/en/quote/JPM.US.md) - [MS.US](https://longbridge.com/en/quote/MS.US.md) - [ANZ.AU](https://longbridge.com/en/quote/ANZ.AU.md) - [BAC-Q.US](https://longbridge.com/en/quote/BAC-Q.US.md) - [BML-L.US](https://longbridge.com/en/quote/BML-L.US.md) - [BAC-L.US](https://longbridge.com/en/quote/BAC-L.US.md) - [BAC-K.US](https://longbridge.com/en/quote/BAC-K.US.md) - [BML-H.US](https://longbridge.com/en/quote/BML-H.US.md) - [BAC-N.US](https://longbridge.com/en/quote/BAC-N.US.md) - [BAC-E.US](https://longbridge.com/en/quote/BAC-E.US.md) - [MER-K.US](https://longbridge.com/en/quote/MER-K.US.md) - [BAC-O.US](https://longbridge.com/en/quote/BAC-O.US.md) - [BML-G.US](https://longbridge.com/en/quote/BML-G.US.md) - [BAC-M.US](https://longbridge.com/en/quote/BAC-M.US.md) - [BAC-B.US](https://longbridge.com/en/quote/BAC-B.US.md) - [BML-J.US](https://longbridge.com/en/quote/BML-J.US.md) - [BAC-S.US](https://longbridge.com/en/quote/BAC-S.US.md) - [BAC-P.US](https://longbridge.com/en/quote/BAC-P.US.md) - [8648.JP](https://longbridge.com/en/quote/8648.JP.md) - [03KB.DE](https://longbridge.com/en/quote/03KB.DE.md) - [DPB.DE](https://longbridge.com/en/quote/DPB.DE.md) - [W4VR.SG](https://longbridge.com/en/quote/W4VR.SG.md) - [C-R.US](https://longbridge.com/en/quote/C-R.US.md) - [JPM-M.US](https://longbridge.com/en/quote/JPM-M.US.md) - [JPM-C.US](https://longbridge.com/en/quote/JPM-C.US.md) - [JPM-D.US](https://longbridge.com/en/quote/JPM-D.US.md) - [JPM-L.US](https://longbridge.com/en/quote/JPM-L.US.md) - [8634.JP](https://longbridge.com/en/quote/8634.JP.md) - [JPM-K.US](https://longbridge.com/en/quote/JPM-K.US.md) - [JPM-J.US](https://longbridge.com/en/quote/JPM-J.US.md) - [MS-O.US](https://longbridge.com/en/quote/MS-O.US.md) - [MS-Q.US](https://longbridge.com/en/quote/MS-Q.US.md) - [MS-E.US](https://longbridge.com/en/quote/MS-E.US.md) - [MS-I.US](https://longbridge.com/en/quote/MS-I.US.md) - [MS-L.US](https://longbridge.com/en/quote/MS-L.US.md) - [MS-P.US](https://longbridge.com/en/quote/MS-P.US.md) - [MS-A.US](https://longbridge.com/en/quote/MS-A.US.md) - [MS-F.US](https://longbridge.com/en/quote/MS-F.US.md) - [MS-K.US](https://longbridge.com/en/quote/MS-K.US.md) - [ANZGY.US](https://longbridge.com/en/quote/ANZGY.US.md) ## Related News & Research - [Zijin Mining Group Co (ZIJMF): New Buy Recommendation for This Basic Materials Giant](https://longbridge.com/en/news/290280385.md) - [Shandong Gold Mining Outlines Board and Committee Structure](https://longbridge.com/en/news/290462011.md) - [Gold is down by 2.12%](https://longbridge.com/en/news/290310222.md) - [Gold and silver tumble as rate-hike fears hit precious metals](https://longbridge.com/en/news/290576846.md) - [Will the Federal Reserve raise or lower interest rates in 2026? 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