Gold may fall for the first week in four on speculation that the 10% price gain in November will spur investors to sell the metal to raise funds and cover losses in other markets, including equities.
Eighteen of 40 traders, investors and analysts surveyed from Mumbai to Chicago on November 20 and November 21 advised selling gold, which rose 6.6% last week to $US791.80 an ounce in New York. Seventeen said to buy, and five were neutral.
Last week's gain was the biggest since September 19 and the metal is headed for the largest monthly rise since January. Gold plunged 18% in October when the Standard & Poor's 500 Index lost 17%. The S&P is down 23% this month.
Most analysts surveyed on November 13 and November 14 anticipated gold's gains last week. The survey has forecast prices accurately in 142 of 238 weeks, or 60% of the time.
