The gold price has wiped out all gains for the year, with international gold prices continuing to fall.

After falling during the Asian session on the 10th, the international gold price continued to decline during the European trading session on the same day, briefly falling below the $4200 per ounce level, wiping out all gains so far this year. As of 17:15 on the 10th Beijing time, the price of gold futures for August delivery on the New York Mercantile Exchange was $4188.70 per ounce, down 2.28%. Calculated at the current price, the international gold price has fallen by 3.51% so far this year. Analysts point out that the US non-farm payroll data released last Friday significantly exceeded market expectations, indicating that the underlying fundamentals of the US job market remain resilient. Faced with the inflationary risks stemming from the conflict in the Middle East, the market is increasingly betting on the Federal Reserve's monetary policy shifting towards rate hikes in the second half of the year. According to the CME Group's "FedWatch Tool," the market currently predicts a 70% probability of at least a 25 basis point rate hike by the end of this year. Once the Federal Reserve starts raising interest rates, it will weaken the attractiveness of interest-free assets such as gold.