Gold's week: near-term wobble, structural bull case intact.
After a sharp correction that pushed prices toward the $4,000 zone, most published research still frames gold as a multi-year uptrend interrupted, not broken. The bullish case leaned on record central bank accumulation (China now buying for roughly 20 straight months), a shift toward physical settlement in Asian markets, and gold's role as a hedge against fiscal deficits and currency debasement. Several strategic forecasts pointed to averages near $4,600/oz in 2026 rising toward $5,000/oz in 2027, with some longer-horizon calls citing $5,500 as an eventual target.
The bearish tactical case was equally well argued: a firmer dollar, higher-for-longer US yields, a perceived hawkish tilt under a potential Kevin Warsh Fed, and technical damage from repeated lower highs. One thread even flagged regulatory-driven stablecoin gold liquidation as a marginal headwind.
Late in the week, sentiment tilted back toward accumulation, with multiple analysts describing the pullback as a buying opportunity rather than a trend change.