Gold May Gain as Europe’s Debt Crisis Spurs Demand, Survey Shows
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Gold may gain as concern about Europe’s debt crisis boosts demand for the metal as a protection of wealth, a survey found.
Seventeen of 19 traders, investors and analysts surveyed by Bloomberg, or 89 percent, said bullion will rise next week. One predicted lower prices and one was neutral. Gold for August delivery was up 0.8 percent for this week at $1,520.40 an ounce by 10:24 a.m. yesterday on the Comex in New York. It reached a record of $1,577.40 on May 2.