According to the latest Kitco News Weekly Gold Survey, analysts are warning investors that if gold can’t go up in this current environment, then look for lower prices.
The gold market has seen a dramatic shift in sentiment as prices cannot push above critical resistance at $1,800 an ounce.
This week, 15 analysts participated in Kitco News’ gold survey.
Meanwhile, a total of 954 votes were cast in online Main Street polls.
Some analysts have noted that while gold has been unable to break above $1,800 an ounce.
The longer term is very positive for gold, with increasing inflation now quite evident, but a Federal Reserve refusing to do anything about it,” said Adrian Day, president of Adrian Day Asset Management.
The question many analysts are asking now is how low gold prices could go in the near term.