Kitco Survey: Bears Dominate Wall Street and Main Street Ahead of Jobs Data

Key Facts

In a sign of continued pressure on gold, the latest Kitco Weekly Gold Survey shows bears still dominate both Wall Street and Main Street, with a dwindling minority of both camps expecting gains next week. The pessimism reflects market anticipation of the upcoming US jobs data, amid the Fed's hawkish stance on interest rates.

The survey comes as gold trades below its previous highs, with investors focused on the Fed's hawkish tone and the possibility of further rate hikes. Spot gold was trading around $4088.39 per ounce at the close on June 26, 2026, according to market data, retreating from earlier peaks. Markets are now awaiting the June payrolls report due July 2, which could reinforce or challenge current trends.

Technically, gold faces resistance at $1,950 (a 7-day high) and support at $1,900 (a 7-day low), per market data. The week ahead is dominated by the US jobs report, which could determine the direction of the dollar and bond yields, and consequently gold's short-term trajectory.