Gold traders are bullish for a fourth week

Gold traders are bullish for a fourth week, the longest run since the bear market began in April, as Federal Reserve Chairman Ben S. Bernanke said he’ll maintain stimulus if growth misses expectations. Gold is heading for the first annual drop in 13 years after some investors lost faith in the metal as a store of value. The Fed chairman said last week the U.S. still needs stimulus, after saying on June 19 that bond buying could slow if the economy improves. Bullion’s plunge to a 34-month low spurred demand for jewelry and coins, and demand from China is “incredibly strong,” Standard Chartered Plc said.

Click Here!