Overview

• Spot gold hovered near $3,370 an ounce on Friday, marking a nearly 2% decline for the week and its first weekly loss in three.
• President Trump’s decision to delay U.S. involvement in the Israel-Iran conflict has eased Middle East tensions and weakened safe-haven appeal.
• Fed Chair Jerome Powell’s warning on rising inflation risks has raised doubts about future rate cuts and weighed on bullion.
• The metal is still up about 30% year-to-date and remains close to its April record high of $3,500 an ounce.
• Wall Street firms are divided on gold’s trajectory, with Goldman Sachs forecasting $4,000 an ounce next year and Citigroup predicting a drop below $3,000 in 2026.