Overview
- Spot gold settled at $4,113 an ounce on Friday, down 3.3% for the week after an intraday record near $4,382 and a 6.3% single-day drop on Tuesday, the steepest since 2013.
- The retreat tracked heavy profit-taking and the largest one-day outflow from gold-backed ETFs in five months, according to Bloomberg data.
- A softer-than-expected U.S. inflation reading rekindled expectations for Federal Reserve easing, helping prices hold above key support around $4,100.
- Goldman Sachs reiterated a multi-year bullish outlook with targets of $4,440 in Q1 2026 and $5,055 in Q4 2026, citing strong central-bank demand and an anticipated Fed cutting cycle.
- Analysts flag continued near-term volatility, while structural supports include lower Treasury yields, a softer dollar, and sustained physical buying.