AGE Daily Gold Update

AGE Daily Gold Update presents a recap on today's action in the precious metals markets. View archives.

6/10/2026: Gold sees strong losses, hits 7-month low, on sticky U.S. inflation

Source: Jim Wyckoff, American Gold Exchange

Austin —

Gold futures prices are sharply lower and hit a nearly seven-month low near midday Wednesday. Silver prices are down and hit a 10-week low overnight. A key U.S. inflation report that is close to problematic pushed gold prices to session lows in early U.S. trading. Technical selling is also featured as gold and silver markets are trapped in price downtrends on the daily bar charts. August gold was last down $141.10 at $4,145.70. July silver prices were last down $0.69 at $64.53.

The annual consumer price inflation rate in the U.S. rose to 4.2% in May, marking its highest level since April 2023, from 3.8% in April and in line with market expectations. This represents the third consecutive monthly acceleration in headline inflation. Compared to the previous month, the CPI was up 0.5%, slightly less than 0.6% in April, and in line with forecasts. Meanwhile, the annual core inflation rate went up to 2.9% annually, a new high since September 2025, compared to 2.8% in April and matching forecasts.

The key outside markets today see the U.S. dollar index slightly higher, while Nymex WTI crude oil prices are up and trading around $89.50 a barrel. The yield on the benchmark 10-year U.S. Treasury yield is presently 4.53%.

Technically, August gold futures prices are trending down on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at $4,500.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the March low of $4,162.60. First resistance is seen at $4,200.00 and then at the overnight high of $4,281.10. First support is seen at $4,100.00 and then at $4,050.00. Wyckoff's Market Rating: 2.5

July silver futures bulls see their next upside price objective is closing prices above solid technical resistance at $75.00. The next downside price objective for the bears is closing prices below solid support at the March low of $61.66. First resistance is seen at $66.00 and then at $68.00. Next support is seen at $63.00 and then at $61.66. Wyckoff's Market Rating: 3.0

6/10/2026: Gold sharply down, at 10-week low, as U.S. CPI on deck

Source: Jim Wyckoff, American Gold Exchange

Austin —

Gold futures prices are sharply lower and hit a nearly seven-month low near midday Wednesday. Silver prices are down and hit a 10-week low overnight. A key U.S. inflation report that is close to problematic pushed gold prices to session lows in early U.S. trading. Technical selling is also featured as gold and silver markets are trapped in price downtrends on the daily bar charts. August gold was last down $141.10 at $4,145.70. July silver prices were last down $0.69 at $64.53.

The annual consumer price inflation rate in the U.S. rose to 4.2% in May, marking its highest level since April 2023, from 3.8% in April and in line with market expectations. This represents the third consecutive monthly acceleration in headline inflation. Compared to the previous month, the CPI was up 0.5%, slightly less than 0.6% in April, and in line with forecasts. Meanwhile, the annual core inflation rate went up to 2.9% annually, a new high since September 2025, compared to 2.8% in April and matching forecasts.

The key outside markets today see the U.S. dollar index slightly higher, while Nymex WTI crude oil prices are up and trading around $89.50 a barrel. The yield on the benchmark 10-year U.S. Treasury yield is presently 4.53%.

Technically, August gold futures prices are trending down on the daily bar chart. Bulls’ next upside price objective is to produce a close above solid resistance at $4,500.00. Bears' next near-term downside price objective is pushing futures prices below solid technical support at the March low of $4,162.60. First resistance is seen at $4,200.00 and then at the overnight high of $4,281.10. First support is seen at $4,100.00 and then at $4,050.00. Wyckoff's Market Rating: 2.5

July silver futures bulls see their next upside price objective is closing prices above solid technical resistance at $75.00. The next downside price objective for the bears is closing prices below solid support at the March low of $61.66. First resistance is seen at $66.00 and then at $68.00. Next support is seen at $63.00 and then at $61.66. Wyckoff's Market Rating: 3.0