Higher gold prices are expected next week by the majority of participants in the Kitco News Gold Survey, with many expecting the situation in Europe to draw buyers to the metal.
In the Kitco News Gold Survey, out of 33 participants, 23 responded this week. Of those 23 participants, 18 see prices up, while three see prices down, and two are neutral. Market participants include bullion dealers, investment banks, futures traders, money managers and technical-chart analysts.
The Greek elections are the focal point for market participants and while the outcome is a mystery since there have been no survey polls conducted for the past two weeks, many said they believe the pro-bailout parties will win. This could trigger a gold rally.
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