Gold bulls charge back on Wall Street and Main Street after weak jobs report dispels rate hike fears and drives gold above $4,100/oz

Kitco’s latest Gold Survey indicates bulls regained control as gold reclaimed $4,100 ahead of the Independence Day long weekend. Sentiment improved on both Wall Street and “Main Street,” suggesting a modest risk-on tilt for the near term. The move is supportive but likely more positioning/technical than a fundamental catalyst.

Analysis

Kitco’s latest Gold Survey indicates bulls regained control as gold reclaimed $4,100 ahead of the Independence Day long weekend. Sentiment improved on both Wall Street and “Main Street,” suggesting a modest risk-on tilt for the near term. The move is supportive but likely more positioning/technical than a fundamental catalyst.