iBankCoin
Joined Nov 11, 2007
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Gold Traders Increase Their Holdings on Future Stimulus Bets

“Gold traders are the most bullish in five weeks as investors expanded their bullion holdings near a record on mounting speculation that central banks will have to do more to bolster economic growth.

Fifteen of 30 analysts surveyed by Bloomberg said they expect prices to rise next week and eight were bearish. A further seven were neutral, making the proportion of bulls the highest since July 6. Investors bought about $850 million of gold through¬†exchange-traded products¬†this month, taking the total of 2,411.7 metric tons yesterday to within 0.1 percent of the all-time high set July 5, data compiled by Bloomberg show.”

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