Gold traders are the most bullish in five weeks after Federal Reserve Chairman Ben S. Bernanke said the U.S. still needs stimulus. Nineteen analysts surveyed by Bloomberg expect prices to rise next week, nine were bearish and three neutral. Gold fell 23 percent last quarter, with the decline accelerating after the Fed chairman said June 19 that bond buying could slow if the economy improves. Unprecedented money printing by central banks since the global recession boosted bullion buying as a hedge against inflation. Enlarge image Gold Traders Most Bullish in Five Weeks After Fed Customers browse gold jewelry and negotiate prices inside a gold store in the Dubai Gold Souk in the Deira district of Dubai. Jewelry and coin demand around the world surged after gold dropped into a bear market in April.
Posted on: Fri, 12 Jul 2013 16:39:22 +0000
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