Wall Street Undecided on Gold's Near-Term Path, Main Street Leans Bearish After $4,200 Ceiling

Gold prices staged a late-week recovery after facing pressure from hotter-than-expected U.S. inflation, rising Treasury yields, and a firmer dollar. Spot gold opened the week at $4,193.59 per ounce, briefly surpassing $4,200 amid geopolitical tensions, and reached a high of $4,216.91.

Selling intensified after September CPI rose 3.7% annually, pushing prices to a weekly low of $4,073.35. A rebound followed as yields retreated and Fed Chair Kevin Warsh avoided signaling an October rate hike.

The Kitco News survey indicated half of Wall Street remains neutral on gold’s near-term direction, while Main Street sentiment edged closer to bearish. Colin Cieszynski stayed neutral, Darin Newsom and James Stanley forecast upside citing technicals and geopolitics, and Fawad Razaqzada maintained a modestly bearish near-term outlook despite long-term bullishness.