Traders Remain Mixed on Gold’s Short-Term Prospects

The latest Bloomberg gold sentiment survey revealed that traders remain mixed on the short-term prospects for the price of the yellow metal.  13 of 26 respondents stated they expect gold to rise next week, 8 predicted it will decline, and 5 were neutral.

Last week’s survey results consisted of 53% of traders bullish on gold.

Bloomberg’s weekly gold survey, which began seven years ago, has correctly predicted the direction of gold prices in 218 of 377 weeks, or 58% of the time.