9
July
Gold May Advance as Price Decline Spurs Buying, Survey Shows (GC in Bloomberg)
9 July 2010 Bloomberg.com
Gold may advance on speculation that the metal’s drop to the lowest level in more than six weeks will prompt some investors to increase holdings, a survey found.
Thirteen of 20 traders, investors and analysts surveyed by Bloomberg, or 65 percent, said bullion will climb next week. Four forecast lower prices and three were neutral. Gold for delivery in August was down 1.5 percent for this week at $1,189.50 an ounce at 11 a.m. yesterday on the Comex in New York. It reached a record $1,266.50 on June 21.
