Gold Price Plunge Triggers Rare Discounts as Laopu Gold Hit with Target Cuts to HK$400 by Two Major Banks - finance.biggo.com

AI desk brief

Gold’s pullback is pressuring downstream demand: Laopu Gold fell as much as HK$308.20 and closed down 7.48% at HK$311.80 after Citi cut its target to HK$400 from HK$507 and Haitong trimmed to HK$435. The piece says international gold has dropped from an early-year peak of $5,598.88 to around $4,205, with higher U.S. Treasury yields and fading speculative longs weighing on prices even as official-sector buying provides a floor.

For bullion, the near-term signal is still bearish/volatile: stronger real-rate pressure is colliding with central-bank reserve demand, leaving prices range-bound until one side wins out. The article highlights $4,200 as a key support area for gold sentiment and warns that further yield gains could extend the downcycle.