Wall Street split on gold price path after drop below $4,300, Main Street maintains bullish majority - news.metal.com

AI desk brief

Gold slipped from early-week highs above $4,380 to a weekly low of $4,244.63 as rising Treasury yields, hawkish Fed expectations and a firmer dollar outweighed safe-haven support from Middle East tensions and inflation concerns tied to energy prices. The metal briefly recovered late in the week on softer oil and dollar weakness, but failed to reclaim $4,300 into the close.

Kitco’s survey showed Wall Street split: 36% bullish, 29% bearish and 36% neutral, while Main Street stayed bullish at 57%. Traders are focused on next week’s U.S. data—PCE, jobs, ISM and consumer confidence—for whether yields and rate-hike expectations continue to cap gold; several respondents flagged $4,400 as the next meaningful upside level, while $4,100 was cited as a deeper support zone.