A majority of expert participants in Debbie Carlson’s weekly Kitco News Gold Survey predicted a rise in bullion prices next week, which would continue a 7-day surge that has seen gold recover over 50% of its losses from the April 12-15 collapse.
Out of 24 respondents including bullion dealers, investment banks, futures traders, money managers and technical-chart analysts, 14 predicted prices to increase, 8 predicted a decrease and 2 saw prices heading sideways or neutral.
The bulls cited feverish physical demand as a counterbalance to paper market retreats from institutions like Goldman Sachs, and the bears worried that this surge of demand may soon falter.
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