Gold May Advance on Faster Inflation, Debt Concern, Survey Shows
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Gold may extend gains from a record as concern about debt and faster inflation spur demand for the metal as an alternative investment, a survey found.
Seventeen of 20 traders, investors and analysts surveyed by Bloomberg, or 85 percent, said bullion will rise next week. Two predicted lower prices and one was neutral. Gold for June delivery was up 1.2 percent for this week at $1,504.30 an ounce by 11:18 a.m. yesterday on the Comex in New York after reaching a record $1,506.20 earlier in the day.