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News Link • Currencies

Gold Will Keep Advancing After Reaching Record, Survey Shows

• Bloomberg
 

Bullion will advance to $1,150 an ounce by the end of the year, 9 percent higher than today, according to the median estimate in a survey of six analysts and investors at a commodities conference in London yesterday. Estimates ranged from $1,300 to $1,050. Gold already rose 20 percent this year and is heading for a ninth consecutive annual gain, the best performance since at least 1948.

The dollar slumped 6.5 percent against a basket of six major currencies this year, as the U.S. kept interest rates near zero and government debt surged on spending aimed at ending the worst economic slump since the 1930s. U.S. consumer 

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