Gold prices to see consolidation in first-half of 2012
B.S. Srinivasalu Reddy Mumbai December 27, 2011
The year 2012 may give an opportunity to investors and households to increase their investments in gold at a relatively low level of Rs 25,000-25,500 for 10 gm. Those who have missed the bus earlier could wait for this opportunity before June."We suggest investors to buy gold, even in bulk, at Rs 25,000-25,500 per 10 gm during 2012, when the price of the precious metal consolidates in the first half. At this level, it would not have much of a downside risk, but would have high probability of going up," said Naveen Mathur, associate director-commodities and currencies of Angel Broking
In the first-half of 2012, gold prices are expected to witness consolidation as a sharp upside will be restricted on account of the ongoing economic uncertainty.
"However, by the second half of the year prices could witness a bounce back as by then the global economy will receive clarity over the lingering European debt crisis and an improving US economy, thus helping investors allocate investments with 'caution' taking a back seat," Mathur added.
Gold has marked its eleventh annual consecutive rise this year, despite falling sharply from its all-time high of $1,920/oz. It has gained 12 per cent in the dollar-denominated international markets, which dictate gold prices across the world, including India, from the opening level of $1,420.8 per troy ounce (31.1034 gm). It was trading at $1,606 per troy ounce when the market broke for year-end holidays last week......
http://businesstoday.intoday.in/story/gold-prices-movement-in-2012/1/21228.html
All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.
No comments:
Post a Comment