LOS ANGELES, Aug 7 (Xinhua): Gold prices may rise for a third straight week if the US Federal Reserve halted interest- rate increases that might cause the dollar to slide, Bloomberg News reported Sunday.
Interest-rate halts would boost the appeal of the precious metal as an alternative to the US currency, analysts said.
Twenty-one of 35 traders, investors and analysts surveyed by Bloomberg News from Sydney to Chicago on Aug. 3 and Aug. 4 advised buying gold. Seven advised selling, and seven were neutral.
Gold price rose 1.3 per cent last week to 656 dollars an ounce in New York.