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Gold May Extend Gains From Record on Declining Value of Dollar

Gold may extend gains from a record as the declining value of the dollar prompts more demand for the metal as an alternative investment, a survey found.

Eighteen of 21 traders, investors and analysts surveyed by Bloomberg, or 86 percent, said bullion will rise next week. Three predicted lower prices. Gold for June delivery was up 1.8 percent for this week at $1,530.60 an ounce by 12:59 p.m. yesterday on the Comex in New York after climbing to a record $1,538.80 earlier in the day.