Editor's Note: Bulls or Bears?

Editor's Note: Bulls or Bears? Kitco News' Global News Editor, Debbie Carlson breaks down what leading analysts are expecting for gold in the week ahead every Friday on Kitco.com.

Survey Participants See Higher Prices For Gold Next Week
Friday October 5, 2012 12:05 PM

Gold prices are expected to rise next week as momentum propels the Higher market, say a majority of u in the weekly Kitco News Gold Survey.

In the Kitco News Gold Survey, out of 33 u, 23 responded this week. Those of 23 u, 18 see PRICES up, while three see PRICES down, and two are neutral or see PRICES moving sideways. Market potentials include bullion dealers, Investment Banks, futures traders, money managers and technical-chart analysts.

Given the strength in gold this week, expectations survey by the majority of gold That are u may try to target and take out the $ 1.800-an-ounce level next week.

"Clearly the momentum is with gold now, and people who were waiting for a more Decline and significant-and there were many-are racing to catch up," said Adrian Day, chairman and chief executive officer, Adrian Day Asset Management.

Those who see weaker PRICES next week or are neutral on gold's price said since the yellow metal could not break through $ 1.800, it MIGHT be due for a correction in the short term.

"With gold near $ 1.800, the price area, it has failed to Sustain on two prior pakis February 2012 and November 2011, and speculative net-long positions at elevated levels, gold is likely to file on its current attempt to successfully break the $ 1.800 barrier without a first correction to the downside. I expect a pullback to at least $ 1.750 in the week ahead, "said Ken Morrison, founder and editor of online newsletter Morrison on the Markets.

By Debbie Carlson of Kitco News dcarlson@kitco.com

Follow me on Twitter! If You Want to keep up with metals news and features, Then follow me on Twitter. It's free, too. My account is @ dcarlsonkitco.

Allen Sykora Contributed to this survey.