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Gold prices are preparing to end its second week in negative territory as it struggles against a stronger U.S. dollar, rising interest rate expectations and stronger equity markets.

Jeffrey Nichols, senior economic advisor at Rosland Capital and managing director at American Precious Metals Advisors, said that he is bullish on gold as equity markets appear to be overvalued and are due for a correction.

“The stock market is getting out of balance and that suggests we are in for a serious correction,” he said. “When the market does start to fall, gold will rally in a big way,” he said.

All eyes will be on the BOJ and the Fed. Other important economic reports to be released next week include July consumer confidence, June durable goods reports, more June housing sector data and regional manufacturing data for July.

The Federal Reserve will be first up to bat and although it is not expected to raise interest rates at its July meeting, investors and traders will be going through the monetary policy statement with a fine tooth comb looking for hints as to the timing of the next potential rate hike.

Phillip Streible, senior market strategist at RJOFutures, said that with still so much uncertainty in financial markets, he is expecting the Fed to strike a neutral tone and temper its hawkish tone by noting growing risks to the global economy.

Baruch also said that he is not expecting the Fed’s tone to be as hawkish as some economists are expecting. Although this will be bullish for gold, he said that the big meeting next week will be the Bank of Japan.

He added that the BOJ meeting could be a win-win for gold.

“If the Bank of Japan introduces more stimulus measure, it will crush negative bond yields even lower, which makes gold more attractive and it will rise despite a stronger dollar,” he said. “If the Bank of Japan holds off on new measures then the yen will rally and gold loves to follow the yen.”

Wall Street and Main Street have similar views on the direction for gold prices next week, based on the Kitco News gold survey, with the bull camp having the largest bloc of voters although each garnered a little less than 50% of the total.

Nineteen analysts and traders took part in the Wall Street survey. Nine, or 47%, look for gold to rise next week. Seven, or 37%, are bearish, while the remaining three, or 16% are neutral.

Meanwhile, 919 Main Street participants submitted votes in either an online or Twitter survey. A total of 451 respondents, or 49%, said they were bullish for the week ahead, while 338, or 37%, were bearish. The neutral votes totaled 130, or 14%.

Gold’s recent price action appears to be holding back market sentiment. Retail investors normally vote higher; this is the first time the bullish tally has been under 50% since March.

Gold for immediate delivery slipped 0.6 percent to $1,315.37 an ounce, declining a second day amid the rebound in equities. Silver, platinum and palladium all dropped at least 1 percent.