The precious metal navigated a volatile week, dropping to a low of $4,066.31 on Wednesday as traders braced for potential interest rate hikes. Renewed demand emerged near the $4,100 level, bolstered by a retreat in oil prices and signs of cooling yields following a successful 30-year Treasury auction. By Friday, spot gold climbed to a weekly high of $4,207.48, ending the period just shy of critical resistance.

Market participants are now turning their attention to upcoming Consumer Price Index and Producer Price Index reports. While analysts like Alex Kuptsikevich see room for further gains toward the $4,350 range, others warn that geopolitical uncertainty and the potential for a strengthening dollar post-election could cap upside momentum. The latest Kitco News survey reflects this split: 50% of surveyed experts anticipate further growth, whereas Main Street retail investors remain largely unconvinced, with only 45% expecting an upward trend next week.