Deutsche Bank expects gold to average $820 an ounce in 2008, compared with a forecast $692 an ounce this year. Gold, which reached a 27-year high this month as rising fuel costs sparked demand for a hedge.
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Gold Little Changed Following Crude Price
Gold traded little changed in Asia after a gain in crude oil boosted
Gold traded little changed in Asia after a gain in crude oil boosted the appeal of the precious metal as a hedge against accelerating consumer prices.
Gold for immediate delivery gained as much as $5.45, or 0.7 percent, to $793.90 an ounce, and traded at $787.34 an ounce at 12:07 p.m. Singapore time.
Deutsche Bank expects gold to average $820 an ounce in 2008, compared with a forecast $692 an ounce this year. Gold, which reached a 27-year high this month as rising fuel costs sparked demand for a hedge.
Deutsche Bank expects gold to average $820 an ounce in 2008, compared with a forecast $692 an ounce this year. Gold, which reached a 27-year high this month as rising fuel costs sparked demand for a hedge.
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