BlockBeats News, June 10th. Following a decline during the early Asian session on the 10th, the international gold price continued to fall during the European trading session on the same day, dropping below the $4200 per ounce level at one point, erasing all gains for the year. As of 17:15 on the 10th Beijing time, the price of gold futures for August delivery on the COMEX was $4188.70 per ounce, down 2.28%. Based on the current price, the international gold price has fallen 3.51% year-to-date. Analysis indicated that the significantly better-than-expected US non-farm payroll data released last Friday suggests that the underlying strength of the US labor market remains.

In the face of the inflationary risks stemming from the Middle East conflict, the market is now more inclined to bet that the Federal Reserve will shift towards raising interest rates in the second half of the year. According to the CME Group's "FedWatch Tool," the market currently projects a nearly 70% probability of the Fed raising rates by at least 25 basis points by the end of this year. Once the Fed starts raising rates, it will diminish the attractiveness of interest-free assets such as gold. (CCTV Finance)