Gold Bulls Expand As Billionaire Paulson Buys Metal: Commodities
By Nicholas Larkin - Aug 17, 2012 4:28 PM GMT
Gold traders are the most bullish in six weeks as investors boosted their bullion holdings to a record on concern that economic growth is slowing and after billionaires John Paulson and George Soros bought more metal.
Fourteen of 26 analysts surveyed by Bloomberg expect prices to rise next week and six were bearish. A further six were neutral, making the proportion of bulls the highest since July 6. Paulson raised his stake in the SPDR Gold Trust, the biggest gold-backed exchange-traded product, by 26 percent in the second quarter and Soros more than doubled his holding, U.S. Securities and Exchange Commission filings showed Aug. 14. Global holdings reached a record on Aug. 10, data compiled by Bloomberg show.
Read more at link http://www.bloomberg.com/news/2012-08-17/gold-bulls-expand-as-billionaire-paulson-buys-metal-commodities.html