7
May
Gold May Extend Gains Above $1,200 on Demand for Currency Hedge
7 May 2010 Business Week
Gold may extend gains to above $1,200 an ounce as investors seek a haven from slumping currencies.
Sixteen of 21 traders, analysts and brokers surveyed by Bloomberg, or 76 percent, said gold may rise next week. Five expect a decline. Gold futures for June delivery rose 0.4 percent this week to $1,185 an ounce on the Comex in New York by 11:01 a.m. local time yesterday.
