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Gold May Rise for Second Week
on Speculation Dollar to Decline
Pham-Duy Nguyen
Bloomberg
Monday, March 31, 2008
Gold may climb for a second straight week on speculation the
dollar will resume a slump against the euro.
Twenty-two of 34 traders, investors and analysts surveyed from
Melbourne to Chicago on March 27 and March 28 advised buying gold,
which rose 1.8 percent to $936.50 an ounce last week in New York.
Seven said to sell, and five were neutral.
Gold reached a record $1,033.90 an ounce on March 17 as the euro
traded at $1.5903, an all-time high. The dollar has dropped 8
percent this year against the euro, while the precious metal gained
12 percent.
(Article continues below)
A majority of analysts surveyed March 20 and March 21 anticipated
gold's gains last week. The survey has forecast prices accurately
in 127 of 204 weeks, or 62 percent of the time.
This week's survey results: Bullish: 22 Bearish: 7 Neutral: 5
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INFOWARS:
BECAUSE THERE'S A WAR ON FOR YOUR MIND
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