Gold prices up on speculation

By Purchasing Staff -- Purchasing, 7/17/2008 2:00:00 AM

Gold priecs may average more than $1,100/oz according to a new forecast by Paul Walker, CEO of London-based research company GFMS Ltd. Gold prices soared to a record $1,032/oz in March on speculative buying, even as supply of the metal has increased faster than demand, Walker said.

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