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Gold tipped to break $1,500/oz this year to hit 5-year high: GFMS

In the final update to its Gold Survey 2017, GFMS said other factors feeding into that could lift gold to an average $1,360 an ounce this year

Reuters  |  London 

Gold could break above $1,500 an ounce this year for the first time since its 2013 crash, GFMS analysts at Thomson Reuters said on Thursday, with the risk of a drop in surging equities and political instability boosting its appeal as a haven from risk. Physical demand is likely to be constrained as prices rise, however, with Chinese demand likely to have already peaked some years ago and Indian consumption seen only matching last year's levels. The metal has already hit its highest since early September this month, lifted by a slide in the dollar to three-year lows against ...

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First Published: Thu, January 25 2018. 18:06 IST