Gold Bulls Extend Streak as Prices Jump on Stimulus
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Gold traders extended their bullish streak as analysts from Bank of America Corp. to Deutsche Bank AG forecast record prices by next year after central banks pledged more action to bolster economic growth.
Fifteen of 29 analysts surveyed by Bloomberg expect prices to rise next week and seven were bearish. A further seven were neutral, extending the overall bullish outlook for an 18th week. Hedge funds’ bets on a rally are at a six-month high and investors bought the most through gold-backed exchange-traded products this quarter in more than two years.