By Chanyaporn Chanjaroen
Aug. 22 (Bloomberg) -- Copper may advance next week after the dollar declined, boosting the metal's appeal as an alternative investment to stocks and bonds.
Nine of 20 analysts and traders surveyed yesterday and Aug. 20 forecast copper will rise next week. Six expected a decline and five were neutral. Copper for delivery in three months on the London Metal Exchange advanced 6.7 percent this week.
The dollar has lost 1.3 percent against the euro this week, making commodities cheaper for holders of other currencies.
This week's survey results:
Bullish: 9 Bearish: 6 neutral: 5
To contact the reporter on this story: Chanyaporn Chanjaroen in London at cchanjaroen@bloomberg.net
Friday, August 22, 2008
Copper May Advance Next Week as Dollar Weakens, Survey Says
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