Gold Traders Most Bullish Since March as Paulson Cuts

“Gold traders are the most bullish in five months on signs that demand for coins and jewelry increased during a plunge in prices that prompted billionaire investor John Paulson to cut his holding for the first time since 2011.

Thirteen analysts surveyed by Bloomberg expect prices to rise next week, four were bearish and five neutral, the highest proportion of bulls since March 8. Consumer buying of the metal jumped 53 percent in the second quarter from a year earlier, almost making up for the record sales of exchange-traded products backed by bullion, World Gold Council data show. ”

 

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