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Tuesday, January 17, 2012

GFMS gold prices Forecast 2012-2013

GFMS gold prices Forecast 2012-2013 ; Gold prices will have a tough time, however, moving substantially higher until Indian demand picks back up. Jewelry demand in the country fell 3 per cent in 2011 with net bullion gold imports of 970 tons, but compared to a 16 per cent increase in Chinese demand, India fell woefully short.

According to GFMS, the first half of 2011 saw very strong buying from India as consumers rightly anticipated higher prices and loaded up on “cheaper” gold. As gold soared in the back half of the year, demand slowed to a crawl. The World Gold Council said that jewelry demand tanked 28 per cent in the third quarter. From July to December, gold prices in rupee terms were up 25 per cent as the dollar appreciated against the local currency and as inflation ballooned to 10 per cent making gold too expensive to buy.

Gold prices will peak sometime between the end of 2012 and the beginning of 2013, according to GFMS, an independent research consultancy owned by Thomson Reuters.

GFMS, in its 2011 Gold Survey report, forecasts a volatile year for gold prices, with gold GC-FT sinking as low as $1,600-$1,550 (U.S.) an ounce, averaging out at $1,760 and perhaps spiking to $2,000 an ounce. But then the party is over. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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