Reason for gold price increase last night, approaching the threshold of 4,100 USD/ounce

According to the announcement of the University of Michigan (USA) on June 26, the consumer confidence index overall in June reached 49.5 points. This result is slightly lower than the 50-point forecast of economists, but has improved compared to the preliminary figure of 48.9 points and significantly higher than the 44.8 points of May.

Ms. Joanne Hsu - Director of Consumer Survey at the University of Michigan - said that consumer sentiment increased by about 10% compared to the previous month, partly thanks to falling gasoline prices. Improvements were recorded in many income, wealth and political views groups.

Expectations for business conditions in the next 5 years increased sharply by 16% as consumer concerns about the long-term impacts of the Iranian conflict gradually subsided," Ms. Hsu said.

However, the psychological index is still in the low zone, 13% lower than February 2026 - the time before the Iranian conflict began, and nearly 20% lower than the same period last year.

New data also shows that cost of living pressure is still a major concern for Americans. For the third consecutive month, more than half of the surveyed people believe that rising prices are negatively affecting their personal financial situation.

After the report was released, spot gold prices quickly rose to a new high in the session, testing the 4,080 USD/ounce zone.

At the recorded time (4:50 AM on June 27 - Vietnam time), world gold prices were listed around the threshold of 4,088.6 USD/ounce, up 1.55% during the day.

In addition, consumer inflation expectations in the US continued to decrease. Inflation forecasts for the next 12 months fell from 4.8% in May to 4.6% in June, although still significantly higher than the normal level in history.

Meanwhile, long-term inflation expectations fell from 3.9% to 3.3%. This level is still higher than the 2.8-3.2% fluctuation recorded in 2024.

Analysts believe that new developments from US economic data are creating more support for gold as the market continues to assess the monetary policy outlook of the US Federal Reserve (Fed). The expectation of reduced inflation may open up the possibility that the Fed will maintain a more flexible policy, thereby supporting safe-haven assets such as gold.