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. 

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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