Gold May Gain on Concern About Slowing Economy, Survey Shows
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Gold may gain as concern about a slowing economy spurs demand for the metal as an alternative investment, a survey found.
Seventeen of 23 traders, investors and analysts surveyed by Bloomberg, or 74 percent, said bullion will rise next week. Two predicted lower prices and four were neutral. Gold for August delivery was up 0.5 percent for this week at $1,508.50 an ounce by 11:25 a.m. yesterday on the Comex in New York. It reached a record $1,577.40 on May 2.