Kitco Gold Price Alert: Why Bullion Prices Are Surging Right Now

Gold retreats after $4,000 record, but Kitco analysts say the rally is far from over Spot gold prices cooled to the $3,990 – $4,010 range on Friday, pausing after touching an all-time high of $4,046 earlier this week. According to Kitco News senior analyst Jim Wyckoff, the dip reflects “routine profit-taking” by futures traders rather than a fundamental shift in sentiment. Why bulls remain confident • ETF inflows still accelerating. The World Gold Council warned that record exchange-traded fund demand has pushed the market into “overextended” territory, yet it noted no sign of broad liquidation. • Rate-cut expectations firm. Minutes from the October FOMC meeting showed policymakers debating the pace—not the direction—of coming cuts, reinforcing gold’s appeal in a lower-yield environment. • Wall Street forecasts climb. TD Securities now targets $4,400 by Q2 2026, calling any pullback a “buy-the-dip opportunity”. Technical picture Kitco’s proprietary charts show initial support at $3,920—just above the 20-day moving average—and deeper support at $3,860. A close below those levels could trigger a 5-10 % correction, but Natixis strategist Bernard Dahdah stresses that momentum remains positive on weekly and monthly time frames. Physical market outlook Indian festival demand typically peaks in late October, and Chinese imports surged 35 % month-over-month in September. Combined with persistent central-bank buying—led by the PBoC’s 17th straight monthly addition—physical offtake is expected to cushion price dips, Kitco calculates using customs and IMF data. Key catalysts to watch next week • U.S. CPI print (Tuesday): A softer reading would strengthen the rate-cut narrative. • IMF/World Bank meetings (Mon-Wed): Any downgrade to global growth could boost safe-haven bids. • Geopolitical headlines: Ongoing Middle-East tensions continue to underline gold’s insurance role. Silver and PGMs Silver slipped to $48.60 after touching a 14-year high of $50.30, mirroring gold’s pause. Platinum is holding above $1,450, its best level since 2012, while palladium remains the laggard at $1,110. Kitco analysts attribute the divergence to robust solar-panel demand for silver and constrained South African platinum supply. Bottom line The pullback has relieved overbought pressures without disrupting the long-term uptrend. Unless U.S. real yields spike unexpectedly, Kitco’s consensus view is that gold remains on track for new highs into year-end. Traders eyeing an entry are watching $3,920 for confirmation that the market has successfully digested its latest record run.