Housekeeping: Good Morning
Featured Analysis:
WGC Survey: More Central Banks Than Ever Plan to Buy Gold
The World Gold Council's 2026 Central Bank Gold Reserves Survey found that official-sector demand for gold remains strong, with 89% of respondents expecting global gold reserves to increase over the next year and a record 45% planning to add gold themselves.
In Other News:
Special: "Buy the Dip!" Says Crédit Agricole
Crédit Agricole argues that gold's recent decline reflects temporary effects from the Iran conflict rather than a breakdown in its long-term investment case. The bank believes central bank demand, reserve diversification, and limits on future rate hikes remain powerful supports, prompting a buy recommendation with upside toward $5,240-$5,420 per ounce.
Data on Deck: FOMC
MONDAY, JUNE 15
No major US releases
TUESDAY, JUNE 16
No major US releases
WEDNESDAY, JUNE 17
8:30a Core Retail Sales m/m (prev 0.7% → est 0.5%)
8:30a Retail Sales m/m (prev 0.5% → est 0.5%)
2p Federal Funds Rate (prev 3.75% → est 3.75%)
2p FOMC Economic Projections
2p FOMC Statement
2:30p FOMC Press Conference
THURSDAY, JUNE 18
8:30a Unemployment Claims (prev 229K → est 225K)
FRIDAY, JUNE 19
8a Bank Holiday
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Technical Comments:
poly, short covering vs new longs entering
