Concerns
about potential escalation in the situation between Ukraine and
Russia, plus a move back above certain technical chart levels, should
support gold prices next week, a majority of participants said in the
weekly Kitco News Gold Survey.
Out of 33 participants, 19 responded this week. Twelve see
prices up, while four see prices down and three see prices sideways or
unchanged. Market participants include bullion dealers, investment
banks, futures traders and technical chart analysts.
Last week, a majority of the survey participants said they
looked for prices to fall this week. As of 11:45 a.m. EDT Friday, Comex
gold for June delivery was up about $8 for the week.
Renewed worries over tensions between Ukraine and Russia pushed
gold prices higher late this week, and several survey participants said
they are erring on the side of caution and calling for higher prices
next week.