Gold prices are set for a retreat in the week ahead, as investors and traders demonstrate more confidence in placing bets on riskier assets. Stocks and funds traditionally offer higher profits.
Gold prices ended higher on Friday, capping one of its best weekly runs in three weeks as worries about the global economy and lackluster coming quarterly corporate results supported bids in the yellow metal. June gold settled up $6.30, or 0.5%, to $1,243.80 an ounce, and finished up the week 1.7% higher – its best weekly advance since March 17.
However, investors ramped up purchases of stocks, and emerging market and inflation-linked bonds in the latest week, turning their most bullish on more risky assets since June last year. Read more: Investors turn most bullish in nearly a year