Gold May Advance From Record on Growth Concern, Survey Shows
This article is for subscribers only.
Gold may extend gains from a record as concern about debt crises and slowing growth boosts demand for the metal as an alternative asset, a survey found.
Sixteen of 30 traders, investors and analysts surveyed by Bloomberg, or 53 percent, said bullion will rise next week. Five predicted a drop and nine were neutral. Gold for December delivery was up 4.7 percent for this week at $1,824.50 an ounce by 11 a.m. yesterday on the Comex in New York after reaching an all-time high of $1,829.70 earlier in the day.