Gold could easily re-gain the $1,000 mark in the coming months and may move up to fresh record highs before the end of the year, said Philip Klapwijk, chairman of Gold Field Mineral Services (GFMS).
Gold may gain over 23 per cent to achieve a fresh all-time high of $1,000 an oz in the first half of 2009 on surging net investment demand from retail investors, who are motivated to own the yellow metal because of fears following the string of bank failures and stresses in the broader global financial system, forecasts Gold Fields Mineral Services (GFMS), a London-based independent consultancy and research company.
Gold may rise to more than $1,100 an ounce this year due to increasing investment demand, London-based research organisation GFMS Chairman Philip Klapwijk said.
Another breach of the $1,000-mark by gold could cause global jewellery demand to decline 8.24 per cent in 2008, according to the data compiled by Gold Field Mineral Services (GFMS), the London-based
Gold fell in London for the first time in more than a week after a rally to a 27-year high curbed demand from jewellers, the biggest buyers. Silver also dropped.
Silver is likely to shadow gold in 2005 with prices expected to average above $6.5 despite weak fundamentals, on the back of strong gold and base metal prices, higher investor interest and a weaker
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