Wall Street Experts Predict Further Gold Decline According to Weekly Kitco Survey

The weekly Kitco gold survey showed that Wall Street experts are leaning towards greater caution, as 46% of 13 experts predicted a further drop in the metal's prices, 23% saw a rise, while 31% were neutral or uncertain, according to a report cited by a Vietnamese platform on October 4.

In the retail investor survey, 182 investors participated, with 47% expecting gold to rise, 33% forecasting a decline, and 20% expecting prices to remain unchanged. The survey noted that this is the first time since July that retail investors have lost their bullish majority, a shift measuring declining buying enthusiasm rather than the price trend itself.

This shift in sentiment comes after a downward wave that pressured the metal in the recent period, making experts more divided between those who consider the decline a temporary correction and those who see it as the start of a longer wave. The survey reflects the views of a limited group over a single week, so it should be read as an indicator of general mood rather than a binding forecast.

Traders in the region monitor these types of surveys because they measure the gap between expert expectations and retail investors, a gap that typically widens before price pivots. The ongoing divided debate means that the upcoming US interest rate decision will remain the decisive factor in determining the metal's direction over the coming weeks.

What do these terms mean?

Market Sentiment: The general mood of market participants, an indicator of their bias rather than the price itself. Bull Market: A state in which prices tend to rise and most participants expect the rise to continue. Correction: A temporary drop in an asset's price within a general upward trend. Weekly Survey: A periodic measurement of opinions from a limited group of analysts and investors regarding price direction.