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Commodities Briefing - Categorized | Bullion/Gold, Market Moves, Trading more

Gold traders most bullish since ‘04 on debt crisis

Posted on 11 November 2011

Mark O’ByrneGold traders and analysts are the most bullish in at least seven years as investors accumulate metal at the fastest pace since August to protect their wealth from a widening European debt crisis.
Twenty-one of 22 surveyed by Bloomberg expect bullion to rise on the Comex in New York next week, the third consecutive increase and the highest proportion in data going back to April 2004. Holdings in exchange-traded products backed by gold rose 25.4 metric tons this week, within 1 percent of the record set almost three months ago, data compiled by Bloomberg show………………………………………..Full Article: Source


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