Gold rose 1 percent on Friday and was heading for its fifth weekly gain, supported by a weaker dollar and prospects for further monetary policy easing in the wake of Britain's vote to leave the European Union.
Safe-haven demand for the metal spurred most of the gains as investors rushed to protect themselves against the uncertainty in the lead up to Britain's shock vote to exit the European Union, dubbed 'Brexit.'
Concerns over the trajectory of global growth, dovish comments from the U.S. Federal Reserve Chair Janet Yellen and retail demand had supported gold ahead of last week's Brexit vote.
Central-bank expectations, U.S. nonfarm payrolls, Brexit and technical-chart momentum will be factors on the collective radars of traders next week as they decide whether to push gold still higher.
The dollar fell 0.5 percent against a basket of six currencies, while European stocks recovered on signs that central banks such as the Bank of England, the Bank of Japan and the European Central Bank will loosen monetary conditions even further.
A total of 15 analysts and traders took part in Kitco's survey, with a whopping 73% calling for higher prices next week. At the same time, 20% expect to see lower prices while 7% are neutral.
Meanwhile, on Main Street, 574 participants voted this week. A total of 372 respondents, or 65%, said they were bullish for the week ahead, while 119, or 21%, were bearish. The neutral votes totaled 83, or 14%.
This is just slightly different from last week's survey results when 73% of market professionals and 62% of retail investors said they were bullish. This was the fourth straight week both Main Street and Wall Street looked for higher prices, and for the fourth straight week they were right.
Reference: CNBC, KITCO
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