Sterling Smith, commodity trading adviser and vice president, commodity research, Citibank Institutional Client Group, is bearish gold.

FORBES: Survey Participants Have Mixed Outlook For Gold Prices Next Week

Gold prices could see some gains into the first part of next week, said Sterling Smith, commodity trading adviser with Country Hedging.

FORBES: METALS OUTLOOK: Higher Gold Prices Possible For Next Week, But Sustainability Questioned

Sterling Smith, market analyst and commodity trading adviser with Country Hedging, said he does not expect an immediate let-up in safe-haven buying.

FORBES: Metals Higher After Greek Austerity Vote; European Debt Worries Persist

There also seems to be less nervousness about holding risk assets, said Sterling Smith, commodity trading adviser and market analyst with Country Hedging.

FORBES: Comex Gold Futures Bounce Modestly As U.S. Dollar Weakens

Sterling Smith, commodity trading adviser and market analyst with Country Hedging, said unless gold can stabilize, more speculators may decide to pare back their gross long positions.

FORBES: FOCUS: Speculators Trim Exposure To Gold - CFTC

Further, platinum is a smaller market that tends to draw less investment interest than in gold, said Sterling Smith, analyst and commodity trading adviser with Country Hedging.

FORBES: Platinum/Gold Spread Offers Trading Opportunity, But Timing Could Be Difficult

Karl Setzer, commodity trading adviser at MaxYield Cooperative in Iowa, said the gain the dollar had a significant impact on the grain markets, which were already in a downtrend.

FORBES: 2012 Outlook: Economic Slowdown Could Pinch Demand For Some Commodities

Sterling Smith, commodity trading adviser and market analyst at Country Hedging, said one weight on gold Wednesday was the retreat in the U.S. consumer price index, an inflation gauge.

FORBES: FOCUS: Gold Weaker As Investors Seek Cash As Safe Haven

If not QE3, some other type of action to further loosen monetary policy is increasingly expected from the Federal Reserve, said Sterling Smith, commodity trading adviser and market analyst with Country Hedging.

FORBES: Gold Surges As Weak Jobs Data Fuels Expectations For More Quantitative Easing