According to analysts, gold futures may rise because of inflation
According to analysts, gold futures may rise because of inflation, which is expected to accelerate.
The survey included 29 experts. 20 traders advised buying gold, which arouses the interest of investors, because it erodes the value of fixed-income assets, such as bonds. 5 of 29 recommended selling, and four said they would hold the precious metal.
Gold has risen 3.7 percent since reaching a six-month low May 10, caused by concerns that the Federal Reserve won't raise interest rates enough to curb inflation.
Gold for June delivery rose 2.1 percent to $384.90 an ounce last week on the Comex division of the NYMEX, the highest closing price in more than two weeks.