5
November
Gold May Advance Next Week on Weaker Dollar, Fed Stimulus, Survey Shows
5 November 2010 Bloomberg.com
Gold may gain as a weakening dollar and additional debt purchases by the U.S. Federal Reserve boost demand for the precious metal, a survey found.
Ten of 15 traders, investors and analysts surveyed by Bloomberg, or 67 percent, said the metal will rise next week. Four predicted lower prices and one was neutral. Gold futures for December delivery gained 1.9 percent this week to $1,383.10 an ounce as of 1:21 p.m. yesterday on the Comex in New York. In after-hours trading, it reached an all-time high of $1,393.40.
