Wall Street split on gold price path after drop below $4,300, Main Street maintains bullish majority - Shanghai Metals Market

AI desk brief

Gold had a difficult week, with spot prices failing to hold above $4,350 and eventually breaking below $4,300 as higher Treasury yields, a firmer dollar, and hawkish Fed expectations weighed on bullion. Spot gold traded from a weekly high of $4,387.51 to a low of $4,244.63 before recovering modestly on Friday to around $4,300, helped by softer oil prices and some dip-buying, but the rebound remained capped.

Kitco’s survey showed Wall Street evenly split into bulls, bears, and neutrals after last week’s unanimous bullish bias, while Main Street stayed bullish, with 57% of retail voters expecting gains. Commentators framed the near-term debate around whether yields have peaked, with some arguing gold needs to clear $4,400 to re-establish momentum and others pointing to continued yield pressure as the main risk; next week’s U.S. PCE, jobs, GDP, ISM and other data are the key catalysts.