Gold market direction hinges on Friday payrolls after rising yields erased last week's post-Fed rally above $4,100.
Gold prices are projected to remain broadly anchored around $4,000 in 2026 as the Federal Reserve's rate hold offsets pressure from still-elevated US yields. The Gold price in US Dollars entered the weekend close at around $4,040 an ounce after a volatile few sessions around the Federal Reserve decision.
Gold has spent six weeks trapped in a tightening range at the yearly low, with the next breakout likely to determine the Augu.
Gold slides as US yields surge, keeping $4,100 out of reach
United States CFTC Gold NC Net Positions fell from previous $183.9K to $182.1K
United States CFTC Gold NC Net Positions: $-163.4K vs previous $183.9K
Beyond inflation: Five underappreciated drivers of Gold prices
The yield of 30-year Treasuries tested levels that were last seen back in 2007.
The gold market has been choppy all week, as short-term traders continue to play within a $200 range overall. At this point, markets are waiting for clarity in the Middle East, and by extension, the interest rate markets.
Gold Weekly Forecast: Bull hesitancy persists despite weaker US Dollar
Gold: Reduced Fed hike bets support prices - Commerzbank