Bloomberg.com: Canada: "Gold Heads for Largest Quarterly Gain Since 1999 on Fund Demand
March 31 (Bloomberg) -- Gold headed for its biggest quarterly gain since 1999 as investment funds bought the metal and other commodities on speculation they will continue to outpace other securities such as equities.
Gold, which yesterday traded at a 25-year high, gained 18 percent 2006, beating the 3 percent increase posted by the Standard & Poor's 500 Index of U.S. companies. The amount of money in index-linked commodity funds will rise 38 percent this year to $140 billion, according to Barclays Capital.
``We are seeing demand from funds,'' said Friedrich Kernstock, an analyst at Kernco Metal Trading GmbH in Vienna, Austria. ``Gold will continue to move up steadily and could reach $650 by year end.'' "
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