Wall St., Main St. expect gold prices to keep on shining

Gold last traded at $1,735 an ounce. Silver at $17.72 an ounce.

NEWS SUMMARY: Precious metal prices traded mixed Wednesday on bargain-hunting despite a firmer dollar. U.S. stocks struggled for direction as investors were unclear whether or not the worst is over for the world's largest economy.

KITCO--- "Wall Street and Main Street look for gold prices to continue their recovery in the week ahead....The metal rose sharply last week as buying emerged on the price dip and accelerated around mid-week when equities corrected sharply lower and Federal Open Market Committee policymakers indicated that they don't envision hiking interest rates any earlier than 2022. Of the 14 Wall Street professionals who took part in this week's survey, none predicted gold would fall next week. Ten, or 71%, called for higher prices, while four respondents, or 29%, were either neutral or said they expect a sideways market. A total of 1,285 votes were cast in an online Main Street poll. Of these, 792 respondents, or 62%, looked for gold to rise in the next week. Another 308, or 24%, said lower, while 185, or 14%, were neutral....Sean Lusk, co-director of commercial hedging with Walsh Trading, said gold will be 'definitely up' for as long as the Federal Reserve keeps pumping money into the economy...He cautioned that there will be bouts of selling in the form of traders booking profits. However, he also looks for some market participants to use price dips as buying opportunities."