Wall Street experts remain optimistic about gold price growth

This week's new price records for gold were largely driven by the US tariff policy. By today, the precious metal's price is holding above the $3,300 level.

The latest Weekly Gold Survey by Kitco News indicates a slight weakening of the bullish sentiment of experts and retail traders towards gold prices after such a spike. However, overall expectations for the main precious metal remain optimistic.

For instance, Adrian Day Asset Management head Adrian Day, Bannockburn Global Forex managing director Mark Chandler, and VR Metals/Resource Letter publisher Mark Leibovit point out the persistence of fundamental factors favoring further gold price rise.

According to Sean Lusk, co-manager of commercial hedging at Walsh Trading, the market is still in chaos due to investors' attempts to protect their savings. Gold has invariably benefited in such an environment. According to Lusk, uncertainty surrounding trade tariffs will continue to dominate global markets, thus continuing to drive gold prices higher.

Still, some experts who have taken part in the survey warned of the possibility of some pullback in the gold market in the near future.