Gold Slips to $4,445 as Traders Square Positions Before Jobs Data and Rate Decisions

In precious metals, gold has stepped back from recent highs, sliding to around $4,445 per ounce as traders brace for a busy run of U.S. macro data. Expectations that the Federal Reserve could deliver further tightening or at least keep rates elevated for longer have weighed on the non‑yielding metal, which typically struggles when real interest rates are rising or perceived to be on the way up.

Sentiment, however, is far from one‑sided. In the latest weekly survey, Wall Street analysts were almost evenly split, with roughly half looking for a rebound in gold over the coming week and the remainder expecting either sideways trade or additional weakness. Retail investors still lean bullish, but their conviction has softened after the late‑week pullback. Geopolitical tensions and ongoing concerns over fiscal sustainability continue to underpin the longer‑term case for gold as a safe‑haven asset. For now, market participants see upcoming U.S. employment figures and central‑bank commentary as the key catalysts that will determine whether the metal’s next move is a renewed push higher or a deeper correction.