Gold's Uptrend Uncertain Amidst Fluctuating Sentiment and Technical Breakout Potential

Despite Friday's selloff, retail investors expect gold to regain its luster with next week's average target at $2,047 an ounce. The latest Kitco News Gold Survey shows that retail investors remain solidly bullish on gold in the near term; however, Wall Street analysts are taking a more cautious stance. Although prices could remain under pressure in the near term, the market remains in a solid uptrend. Looking to next week's price action, many analysts have said that traders and investors need to pay attention to the U.S. dollar.