Gold may gain for a seventh straight week as declines in the dollar boosts the appeal of the precious metal as an alternative investment.
Seventeen of the 37 traders, investors and analysts surveyed by Bloomberg News from Sydney to Chicago on 15 February 2007 and 16 February 2007 advised buying gold, which rose 50 cents (Rs22) to $672.80 an ounce last week on the Comex division of the New York Mercantile Exchange. Thirteen respondents said to sell, and seven were neutral. Gold has risen 10% since 8 January and is up 23% from a year ago.
The Bloomberg survey has forecast prices accurately in 90 of 147 weeks, or 61% of the time.