gold

According to CoinGlass data, gold (XAUT) is currently priced at $4042.66, with a 24-hour decline of approximately 0.68%. The total contract open interest for XAUT across the network in the last 24 hours reached $525 million, with the Gate platform's open interest exceeding $114 million, ranking third in the entire network.

According to CoinDesk, Tether stated that XAUT is backed 1:1 by physical gold stored in Swiss vaults, with each token corresponding to 1 troy ounce of gold, currently corresponding to approximately $23 billion in gold reserves.Ledn stated that the XAUT used by users for collateral will continue to be held at a 1:1 ratio and will not be lent out or used to generate income.

The Kobeissi Letter analysis points out that since April, the cumulative net outflow from U.S. gold and Bitcoin-related ETFs has been about $12 billion, while during the same period, semiconductor ETFs recorded a net inflow of about $20 billion, with funds clearly concentrating in the technology growth sector.This trend accelerated further in mid-May: the outflow from gold and Bitcoin ETFs increased more than threefold, while the inflow into semiconductor ETFs doubled. In terms of market performance, the world's largest gold ETF GLD has fallen about 13% since early April, and the Bitcoin ETF IBIT has dropped about 12% during the same period; in contrast, semiconductor ETFs SOXX and SMH have risen approximately 81% and 60%, respectively.Analysis suggests that the current market shows a clear "risk preference switch," with retail funds accelerating their shift from safe-haven assets and crypto assets to high-growth semiconductor and AI-related sectors, driving the market in unprecedented ways.

According to Gate market data, spot gold rose short-term by 15 dollars, breaking through 4060 dollars/ounce, with an intraday increase of 0.83%.

According to Jinshi, the U.S. Department of the Treasury announced sanctions against a Rwandan gold refinery and a network facilitating the trade of conflict minerals.

The gold token PAXG issued by Paxos has been launched on the Solana mainnet through the Sunrise protocol, becoming the first gold token regulated by the Office of the Comptroller of the Currency (OCC) and available in the Solana ecosystem.

According to Gate market data, after the release of the US PCE data, spot gold surged nearly 30 dollars in the short term, currently reported at 4,010 dollars/ounce.

On June 25, WEEX announced that it has officially launched the zero-fee trading activity for Hela Gold (HGOLD). Users participating in trading can share a prize pool of 30,000 USDT: new users with a net deposit ≥ 100 U and whose first transaction is HGOLD spot can receive a reward of 10 USDT; both new and existing users whose HGOLD spot trading volume ≥ 100 U can participate in sharing 10,000 USDT based on trading volume rankings; inviting friends to participate in the activity can earn up to 1,000 USDT in rewards.It is reported that Hela Gold (HGOLD) is the 230th WE-Launch project by WEEX. Previously, HGOLD has jointly issued an airdrop of 10,000 USDT to WXT holders participating in the WE-Launch event with WEEX.

According to Gate market data, U.S. stocks closed on Wednesday with the Dow Jones Industrial Average initially rising by 0.36%, the S&P 500 index falling by 0.09%, and the Nasdaq down by 0.4%. SpaceX (SPCX.O) fell by 1%, Microsoft (MSFT.O) fell by 2%, and Oracle (ORCL.N) fell by 4.5%. The Nasdaq China Golden Dragon Index closed down by 1.77%, Alibaba (BABA.N) fell nearly 3%, and Bilibili (BILI.O) rose over 3%.

According to Gate market data, gold prices have plummeted significantly, continuing the decline from the previous trading day, closing at $3,990.3 per ounce, marking the lowest closing price since November of last year. The strengthening dollar and the market's increasing expectation that the Federal Reserve may raise interest rates later this year have dampened investor sentiment. Gold futures prices in the New York market fell by 3.4%, and prices of other precious metals also declined.

According to CoinGlass data, gold (XAUT) is experiencing fluctuations and corrections, currently priced at 4075.01 USD, with a 24-hour decline of approximately 0.68%. The total 24-hour spot trading volume of XAUT across the network reached 57.82 million USD, with the Gate platform accounting for about 10.49 million USD, ranking second in the network; the total 24-hour contract open interest of XAUT across the network reached 511 million USD, with the Gate platform's open interest at about 122 million USD, ranking third in the network.

Today, Bitget CFD Chief Analyst Lewis Huang pointed out in an online live broadcast themed "Logic of Gold Trend Analysis" that this week's market focus will be on the U.S. May PCE Price Index and the final value of Q1 GDP.Previously, CPI and PPI data reached new highs, non-farm employment showed robust performance, and signals of inflation rebound combined with the Federal Reserve's hawkish stance have led the market to gradually digest rate hike expectations. He emphasized that Waller has clearly stated that controlling inflation is the top priority, and the interest rate dot plot shows that rate hikes in 2026 are becoming an internal consensus, and the market needs to prepare for a higher and longer-lasting interest rate environment.Regarding the gold trend, Lewis Huang stated that due to the impact of geopolitical conflicts driving up energy prices, the overall year-on-year increase in the Personal Consumption Expenditures (PCE) Price Index may rise to 3.4% or even higher. If the Personal Consumption Expenditures (PCE) Price Index rises unexpectedly, the U.S. Dollar Index will gain strong momentum, while non-interest-bearing assets like gold will face weakening risks. He suggests that CFD traders closely monitor inflation expectation differentials and flexibly capture opportunities for U.S. dollar bullishness or guard against gold downturns.

On June 23, WEEX Exchange announced that the WEEX Gold Contract Trading Competition has been extended until June 30. During the event, new users who net recharge ≥ 100 U and complete their first spot transaction of gold tokens (PAXG / XAUT) (trading volume ≥ 50 U) will receive a 10% interest coupon for PAXG / XAUT wealth management and a bonus of 10 USDT. In addition, both new and existing users participating in PAXG / XAUT contract trading can receive corresponding rewards by achieving trading volume tasks, with a maximum individual bonus of 200 USDT.

According to Jinshi reports, Deutsche Bank stated that if the Federal Reserve raises interest rates, the price of gold may drop to $3,800 per ounce.

According to the official announcement, Bitget's stock derivatives have launched 10 underlying assets including KLAC (KLA Corporation), JPM (JPMorgan Chase), GEV (General Electric Vernova), GS (Goldman Sachs), LIN (Linde Group), covering areas such as semiconductor equipment, financial services, energy transition, and ETFs in the South Korean market.

According to Cryptopolitan, the decentralized lending protocol Goldfinch, supported by a16z, announced it will gradually shut down. Last Friday, an anonymous investor, Edward Morra, publicly accused the protocol of mismanagement, leading to over $50 million in user fund losses, stating that borrower defaults and failed loan restructurings made it nearly impossible for depositors to recover their funds. Just a day after the post was published, the project announced it would enter a gradual shutdown phase.The protocol's native token GFI fell from a peak of $32.94 in January 2022 to below $0.07, a decline of 99.8%, with its market capitalization dropping from over $390 million to less than $6 million. Goldfinch was founded in 2021 by former Coinbase employees, aiming to connect crypto capital with credit enterprises overlooked by traditional banks, with a16z leading its $25 million financing in January 2022. Problems began to emerge months after the funding: the Kenyan motorcycle financing company Tugende Kenya defaulted, two underlying positions in the $2 billion loan from the U.S. credit fund Stratos nearly went to zero, and the Singapore borrower Lend East could only repay 58% of the principal. As the loan portfolio deteriorated, the protocol turned to institutional credit funds but ultimately could not turn the situation around.

According to Protos, the decentralized lending protocol Goldfinch, led by a16z and aimed at serving the unbanked population in Africa, is in crisis.On-chain data shows that among the 8 borrowers in the project, 2 have officially defaulted, and 6 have entered debt restructuring, with total losses exceeding $18 million. Depositors are lamenting that "the $50 million has gone down the drain." Its native token GFI has fallen from a peak of $32.94 in January 2022 to below $0.07, a decline of 99.8%, and the project's market value has shrunk from a peak of $390 million to less than $6 million.Goldfinch had previously lent over $100 million to borrowers in 18 countries, including motorcycle rental companies in Kenya and salary advance platforms in Nigeria, but the core issue lies in the severe lack of off-chain credit verification, with borrowers frequently misappropriating funds and refusing to repay. As the default rate rises, the project has quietly abandoned its positioning in emerging markets in Africa, shifting towards institutional credit funds like Ares and Apollo, rendering its original vision of inclusive finance a mere facade.