Wall St. and Main St. look for bounce in gold prices

New York (May 1)  Wall Street and Main Street were both undeterred by this week’s pullback in gold, calling for the metal to rise next week, according to the weekly Kitco News gold survey.

Wall Street is not as heavily bullish as a week ago, when 80% of the respondents were bullish. However, the majority of the bears in this week’s survey say they actually remain constructive in the long term, but figure there is a chance for the current correction lower to continue for a while yet.

Nine out of 15 Wall Street voters, or 60%, said they are bullish for the week ahead. Five voters, or 33%, called for lower prices, while one, or 7%, was neutral.

KitcoNews