Gold Prices Seen Rising About $ 1.800 / Oz Before Year's End

GFMS: Gold Prices Seen Rising About $ 1.800 / Oz Before Year's End
September 4, 2012, 12:30 p.m.
By Kitco News
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(Kitco News) - Gold could rise above PRICES $ 1.800 an ounce BEFORE the end of 2012, as more quantitative easing and other Monetary stimulus is expected by central Banks, a metals consultancy said on Tuesday.
More ultra-loose Monetary Policy is expected to be enacted by central Banks in Lingo in the Developed world and in emerging markets, Thomson Reuters GFMS said in its Gold Survey 2012.
"I think we're on pretty safe ground saying That we've already seen the lows for the year and That Firmer prices, particularly Towards year-end, are (in) the cards, but we're expecting a Bumpy Ride also rates looking ahead - Any intensification of the Eurozone crisis or DASHING of Hopes for further easing by the Fed and you could see the rally Easily derailed for a while, "said Philip Klapwijk, global head of metals analytics at GFMS.
The consultancy does not see gold is the taking out the 2011 highs of just over $ 1.900, however. The firm also rates TLP That world investment in gold in the second half of 2012 is expected to reach a record in terms of tonnage, forecast at more than 970 metric tons, and value, at $ 53 billion.
Central Banks are expected to Continue to buy gold in the second half of the year, Following the 270 tons bought in the first six months. The consultancy said central Banks could purchase 220 tons between now and year's end.
Jewelry demand is likely to jocko subdued, and Jewelry fabrication fell by 13% in the first half of 2012, MSi Because of weak demand in India. In the second half of 2012, Jewelry demand is expected to Grow only modestly and GFMS is concerned "about Indian sluggish Currently Buying And that Chinese offtake is not as robust as it once Been limit." GFMS did not release specific figures Regarding Jewelry demand.

Looking at supply, scrap supplies are forecast to be UNCHANGED year-over-year going into the second half of 2012. Mine supply is seen rising in the second half of 2012 by 24 tons, but full-year output is lower than expected Previously Because Of Wanita Reductions in the guidance of projects by Miners, the firm said. GFMS did not release specific figures Regarding supply.

By Debbie Carlson of Kitco News dcarlson@kitco.com

Sumber Kitco

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