Gold May Advance on Europe Debt Woes, Fed Policy, Survey Shows
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Gold may gain as concern about Europe’s debt woes and sustained record-low interest rates in the U.S. spur demand for the metal as an alternative investment, a survey found.
Twelve of 16 traders, investors and analysts surveyed by Bloomberg, or 75 percent, said bullion will rise next week. Two predicted lower prices and two were neutral. Gold for August delivery was down 1.3 percent for this week at $1,519.70 an ounce by 11 a.m. yesterday on the Comex in New York. It reached a record $1,577.40 on May 2.