Gold May Advance as European Debt Woes Spur Demand, Survey Shows
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Gold may advance as European debt concerns boost demand for bullion as a protection of wealth, a survey found.
Thirteen of 18 traders, investors and analysts surveyed by Bloomberg, or 72 percent, said the metal will rise next week. Three predicted lower prices and two were neutral. Gold futures for December delivery gained 0.2 percent this week to $1,400.10 an ounce as of 11:17 a.m. yesterday on the Comex in New York. Bullion reached a record $1,424.30 on Nov. 9.