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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
As global markets search for clarity on the future of monetary policy, the Kitco News Weekly Gold Survey showed that Wall Street experts are now overwhelmingly bearish on gold's near-term prospects. According to reports, pessimism has also grown among Main Street retail investors following a week of price weakness for the precious metal. This shift in sentiment follows a technical breakdown in gold prices, with market participants now shifting their focus toward upcoming inflation data as the primary catalyst for the next move.
This negative sentiment coincides with broader pressure on non-yielding assets as markets await a speech by Fed Chair Powell scheduled for May 31, 2026, per the economic calendar. Compared to other precious metals, gold remains highly sensitive to US interest rate expectations and dollar strength. Per market data, persistent inflation concerns could lead to a 'higher-for-longer' rate environment, which traditionally weighs on gold prices by increasing the opportunity cost for investors.
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Sign InTraders should closely watch the upcoming US inflation figures and the ISM Manufacturing PMI due on June 1, 2026, as these will serve as critical directional catalysts. In the absence of real-time price feeds in this update, the recent technical breakdowns remain the primary focus for analysts. Additionally, the speech by Fed Governor Waller on May 31, 2026, will be monitored for any hints regarding the central bank's stance on cooling price pressures.