Gold May Drop as Investors Sell on Rise to Record, Survey Shows
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Gold may decline as some investors sell after the metal’s rally to a record and as other commodities drop, a survey found.
Eight of 18 traders, investors and analysts surveyed by Bloomberg, or 44 percent, said bullion will fall next week. Seven predicted higher prices and three were neutral. Gold for June delivery was down 4.5 percent for this week at $1,485.70 an ounce by 11:30 a.m. yesterday on the Comex in New York. It reached a record $1,577.40 on May 2.