Gold's 91-day flash bear record was the fastest since 2008, with the Comex hitting a low of $4,046, down 21% from its January high. The CPI soared to 4.2% in May, pushing up expectations for interest rate hikes. The 30-year U.S. bond yield exceeded 5%, and the cost of holding zero-interest gold rose. The options market is extremely pessimistic, but gold mining stocks are showing contrarian signals. In the short term, June is still under pressure or may test US$3,800. In the medium term, it is expected to stabilize and rebound in the second half of the year. The long-term fiscal deficit and debt issues support the upward movement of the gold price center.