NEW YORK (TheStreet) -- Despite gold prices rising in January, gold investor sentiment dropped to 51.9 in the month, compared to 52.9 in December. BullionVault's Vice President Miguel Perez-Santalla told TheStreet's Joe Deaux the drop was from the broader investing public's lagging reaction to gold prices.
Simply put, investor sentiment could tick higher next month because of the rise in gold prices. He added that tax repercussions and financial planning have left a lot of investors taking a wait-and-see approach for whether they will buy, sell or hold gold.
Despite the reading hitting an 18-month low, Perez-Santalla says gold sentiment could certainly move higher next month if global and emerging market issues continue to plague the headlines.
As for gold itself, he said the metal is currently rangebound, but could spike above $1,300 sometime this quarter.