Gold May Advance on Demand for Wealth Protection, Survey Shows
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Gold, which rose to a record this week, may extend its advance 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 gain next week. Four forecast lower prices and three were neutral. Gold for December delivery was up 0.3 percent for this week at $1,302.50 an ounce at noon yesterday on the Comex in New York after touching an all-time high of $1,317.50 earlier in the day.