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Gold May Jump to $1,300 Fueled by Investment Demand, GFMS Says

Gold, headed for a 10th annual gain, may reach at least $1,300 an ounce this year as investors seek a shield against financial turmoil, weak currencies and inflation, according to GFMS Ltd.

“There is going to be in all likelihood a surge in investment demand toward the end of this year, driving prices toward the $1,300 level and possibly beyond,” Chief Executive Officer Paul Walker said in an interview, repeating a June forecast. “Prices are going to ratchet up.”