Kitco News: Gold bears are surging back into the marketplace. Meanwhile, Main Street remains significantly optimistic on the gold.
The shift in sentiment on Wall Street comes as the gold market looks to see its first negative weekly close in five weeks. Many analysts are not looking to short the market; they do see profit taking weighing on sentiment after prices hit a fresh six-year higher earlier in the week.
Comments by 15 market professionals:
40% - called for gold to be higher
40% - called for gold to be lower
19% - Neutral
Comments by 1,203 respondents took part in Main Street poll:
63% - called for gold to rise
21% - predicted gold would fall
15% - saw a sideways market.
In the last survey, Main Street and Wall Street were both bullish on prices for the week. Gold futures were trading at $1,533 an ounce down 0.24% from the previous week.