Experts see gold prices rising next week

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.

 

To read more of Kitco's excellent metals coverage, click here.