Gold prices will go up $2,000 March 2012

Gold prices will go up $2,000 March 2012 : Gold imports are likely to reach 1,000 tonne due to growing investment demand, while prices might touch USD 2,000 by March 2012 driven by global economic crisis, a senior SocotiaMocatta official today said.

"Investor demand has compensated the decline in the jewellery consumption. The rising gold prices, which has boosted the investors appetite, may result in close to 1,000 tonne imports of the yellow metal," Rajan Venkatesh, managing director, India bullion, SocotiaMocatta, part of the Bank of Nova Scotia, told reporters on the sidelines of FICCI 'Gems and Jewellery Conference' here.

The current US and the Euro zone crisis, he said, will keep the gold prices bullish and it is likely to reach USD 2,000 an ounce in another 3-4 months, he said. For the latest updates PRESS CTR + D or visit Stock Market news Today

Related Post: