Higher gold prices expected for next week —survey

Despite gold has lost more than a quarter of its value this year and looks certain to record its worst performance since 1981, 17 out of 34 gold dealers, investment banks, futures traders, money managers and technical-chart analysts predict gold prices head up next week.

The Kitco News Gold Survey results show 50% of the experts interviewed see gold moving slightly up next week to $1,230.

Short covering and the clearing of hedges may have triggered the modest gold rally, as the year-end draws near.Higher gold prices expected for next week —survey