Gold May Gain on Wealth Protection, Weaker Dollar, Survey Shows
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Gold, which reached a record this week, may extend gains as investors seek a protection of wealth and an alternative to a weakening dollar, a survey found.
Sixteen of 23 traders, investors and analysts surveyed by Bloomberg, or 70 percent, said the metal will rise next week. Six forecast lower prices and one was neutral. Gold for December delivery was up 1.3 percent for this week at $1,293.60 an ounce at 11 a.m. yesterday on the Comex in New York. Futures climbed to a record $1,298 on Sept. 22.