Gold May Gain on Fed Stimulus Signal, Debt Concern, Survey Shows
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Gold may extend gains from a record as concern about more U.S. economic stimulus and debt woes in the country and Europe boost demand for a protection of wealth, a survey found.
Twenty-four of 27 traders, investors and analysts surveyed by Bloomberg, or 89 percent, said bullion will rise next week. One predicted lower prices and two were neutral. Gold for August delivery was up 2.9 percent for this week at $1,586 an ounce by 11:08 a.m. yesterday on the Comex in New York after earlier in the day touching a record $1,594.90.