Gold Analysts More Bullish on Fed Stimulus Outlook: Commodities
This article is for subscribers only.
Gold analysts are the most bullish in six weeks as Janet Yellen, the nominee to run the Federal Reserve, signaled the U.S. central bank is in no hurry to curb economic stimulus, reviving demand for the metal as a haven.
Eighteen analysts surveyed by Bloomberg News expect prices to gain next week, nine are bearish and two neutral, the largest proportion of bulls since Oct. 4. Gold rose 70 percent from December 2008 to June 2011 as the Fed pumped more than $2 trillion into the financial system, fueling expectations of accelerated inflation and a weaker dollar. President Barack Obama nominated Yellen, the bank’s vice chairman, last month to succeed Chairman Ben S. Bernanke, whose term expires Jan. 31.