Gold May Advance on Demand for Wealth Protection, Survey Shows
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Gold, set for a 10th consecutive annual gain, may advance as investors seek a protection of wealth and alternative to currencies, a survey found.
Eighteen of 22 traders, investors and analysts surveyed by Bloomberg, or 82 percent, said the metal will rise next week. Two predicted lower prices and two were neutral. Gold for February delivery was up 1.9 percent for this week at $1,407.20 an ounce at 10:34 a.m. yesterday on the Comex in New York.