The path of Gold
Gold may rise for a fourth straight week on speculation that a slowing U.S. economy will erode the value of the dollar, increasing the appeal of the precious metal as an alternative investment.
Several investors and analysts advise buying gold, which rose 0.8% last week to $601 an ounce in New York.
The metal has rebounded after a 4.7% drop in September that was the 2nd-biggest monthly decline in 2 years, and the dollar has fallen for 2 consecutive weeks against the world's major currencies.
U.S. economic growth slowed in the 3rd quarter to the slowest pace since 2003 as the housing market slumped and the trade deficit widened.
Bullion will probably end this year at $580 an ounce and next year at $550 an ounce.
Several investors and analysts advise buying gold, which rose 0.8% last week to $601 an ounce in New York.
The metal has rebounded after a 4.7% drop in September that was the 2nd-biggest monthly decline in 2 years, and the dollar has fallen for 2 consecutive weeks against the world's major currencies.
U.S. economic growth slowed in the 3rd quarter to the slowest pace since 2003 as the housing market slumped and the trade deficit widened.
Bullion will probably end this year at $580 an ounce and next year at $550 an ounce.
posted by Trading 4 life at
10:53 am
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