Monday, 21 November 2011

Gold Prices Expect to Average $2,000/oz in H2 2012

Analysts at Deutsche Bank Securities provide an insight into Gold prices and demand.

In a research note published yesterday, the analysts mention that according to the report released by World Gold Council (WGC) the Gold demand has reached 1053.9 tons in Q3 2011, up 6% YoY, translating to a record level $58 billion. The investment demand up 33% YoY reflecting the overall growth in demand, as investors sought wealth preservation and portfolio diversification, while central banks continue to purchase. Despite gold price gyrations experienced in Q3 2011, the analysts remain optimistic on gold and expect prices to average $2,000/oz in H2 2012. The US Federal Reserve commits to keep interest rates on hold, while other central banks are seeking diversification and the continued backdrop of Euro Sovereign risk, the analysts add.

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