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Gold analysts more bullish on Fed stimulus outlook

Published Fri, Nov 15, 2013 · 10:00 PM
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GOLD analysts are the most bullish in six weeks as Janet Yellen, the nominee to run the US Federal Reserve, signalled the US central bank is in no hurry to curb economic stimulus, reviving demand for the metal as a haven.

Eighteen analysts surveyed by Bloomberg News expect prices to gain next week, nine are bearish and two neutral, the largest proportion of bulls since Oct 4. Gold rose 70 per cent from December 2008 to June 2011 as the Fed pumped more than US$2 trillion into the financial system, fuelling expectations of accelerated inflation and a weaker US dollar. President Barack Obama nominated Ms Yellen, the bank's vice-chairman, last month to succeed chairman Ben S Bernanke, whose term expires on Jan 31.

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