Gold trade strengthens

Gold traders are the most bullish in four months as U.S. lawmakers near a deadline for budget talks, at a time when hedge funds are cutting bets on higher prices.Fifteen of 19 analysts surveyed by Bloomberg expect prices to rise next week and one was bearish. A further three were...

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Gold trade strengthens



Bloomberg - 28.12.2012

Gold traders are the most bullish in four months as U.S. lawmakers near a deadline for budget talks, at a time when hedge funds are cutting bets on higher prices.
Fifteen of 19 analysts surveyed by Bloomberg expect prices to rise next week and one was bearish. A further three were neutral, making the proportion of bulls the highest since Aug. 24. Investors bought 60 percent more this year through gold- backed exchange-traded products compared with 2011, boosting holdings to a record on Dec. 20 and which are now valued at $140.2 billion, data compiled by Bloomberg show.



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