Wall Street, Main Street Struggling To Be Bullish On Gold

According to Mining News Pro - Wall Street and Main Street tilted toward bullish in the weekly Kitco News gold survey, although not by much, with the largest bloc of voters coming in at less than 50% in both polls.

Gold was nearly unchanged for the week going into the New York trading session Friday, before falling modestly after the Labor Department reported that U.S. nonfarm payrolls rose by 201,000 during August. Average hourly earnings rose 10 cents, or 0.4%, the most in nearly a decade.

Seventeen market professionals took part in the Wall Street survey. Seven respondents, or 41%, predicted higher prices. There were five votes, or 29%, for both lower and sideways prices.

Meanwhile, 676 people responded to an online poll. A total of 329 respondents, or 49%, called for gold to rise. Another 251, or 37%, predicted gold would fall. The remaining 96, or 14%, see a sideways market.