Gold Bullion Bars
Wednesday, November 14, 2012
Gold to rise by 6% to $1,843 by September 2013, conference poll predicts Participants in an annual gathering of the London Bullion Metal Association on Tuesday expected gold to reach $1,843 an ounce by the time of the next conference in September 2013, and forecast silver to reach $38.40. ... The forecast rise of 6.7 percent in the price of gold is based on expectations for growing demand in Asia, particularly China, as well as a continuation of the easy monetary policy of the United States. ... Just over half of the participants expect the U.S. Federal Reserve to launch another round of quantitative easing, and 56 percent of them see China's economy growing between 7 and 8 percent in 2013. China is expected to overtake India as the world's top gold consumer, as demand in that country has been resilient, although the pace has slowed from the past couple of years. Thirty-six percent of conference participants expect Shanghai to become Asia's precious metals trading hub in the next year, topping Hong Kong and Singapore, which are vying for the position.
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Posted by Richard Davey at 7:15 AM
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Richard Davey Consultants to the banking industry to supply gold bullion http://www.goldbullionadvisors.com View my complete profile
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