Sunday, April 22, 2007

Gold May Rise for 8th Week as Asia Growth Spurs Demand for Inflation Hedge

(Bloomberg) -- Gold may rise for an eighth straight week as economic growth in Asia boosts demand for the precious metal as a hedge against inflation.

Fifteen of the 30 traders, investors and analysts surveyed by Bloomberg from Sydney to Chicago on April 19 and April 20 advised buying gold, which rose 0.9 percent to $695.80 an ounce last week on the Comex division of the New York Mercantile Exchange. Seven said to sell and eight were neutral.


Read more at Bloomberg Commodities News

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