Gold to Exceed $2,000 as Investors Seek Haven, Barclays Says
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Gold will exceed $2,000 an ounce as the economic crisis in Europe boosts investor demand for a haven, said Kevin Norrish, managing director of commodities research at Barclays Capital in London.
Gold for immediate delivery climbed to a record $1,921.15 on Sept. 6 and is heading for an 11th annual consecutive gain, the longest winning streak since at least 1920 in London. Prices more than doubled since the end of 2007 as stock markets slumped, economies contracted and central banks and governments pumped more than $2 trillion into the global financial system.