Gold Heads for Longest Run of Weekly Gains Since February
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Gold futures rose for the fifth straight week, capping the longest rally since February, as monetary stimulus by central banks boosted demand for the metal as a store of value.
The Federal Reserve last week announced a third round of quantitative easing to bolster the U.S. economy, and central banks in Europe and Japan have pledged steps to spur growth. Grains led commodities into a bull market last month, triggering concerns that consumer prices will increase, and analysts from Bank of America Corp. to Deutsche Bank AG forecast that gold will rise to a record by next year.