Gold May Gain on U.S., European Debt Concerns, Survey Shows
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Gold may extend its climb to a record as debt concerns in the U.S. and Europe spur demand for the metal as a protection of wealth, a survey found.
Sixteen of 32 traders, investors and analysts surveyed by Bloomberg, or 50 percent, said bullion will rise next week. Nine predicted lower prices and seven were neutral. Gold for August delivery was up 0.5 percent for this week at $1,597.50 an ounce by 11:02 a.m. yesterday on the Comex in New York. It reached an all-time high of $1,610.70 on July 19.