Gold Swings Sharply as Wall Street Splits and CPI Looms After Jobs Data

Gold prices swung sharply last week, opening at $4,439.15 per ounce and dropping to a low of $4,282.61 before rebounding to a high of $4,511.08 on softer yields and less-hawkish Fed comments. The gains were erased after stronger jobs data showed 162,000 new positions, pushing prices down to $4,365.57 intraday. Spot gold settled at $4,432.33, marginally lower for the week. The Kitco News survey showed Wall Street divided among bulls, bears and neutrals, while Main Street investors trimmed their bullish majority after the failed breakout. Analysts like Marc Chandler flagged risks of a break below $4,280, but Rich Checkan highlighted mounting debt as a bullish driver. Attention now turns to the upcoming CPI report and Fed policy decisions.