Investors bullish on gold amid strong fundamentals, weak global economy

Despite falling imports into India and China, gold prices are moving up due to high investment and consumer demand in the US

Gold price is likely to gain at least 12 per cent this calendar year on intermittent demand from institutional investors and safe haven buying from retail consumers, especially in the US where presidential elections are due in November.

Trading currently at Rs 48,041 per 10g after hitting a record high of Rs 48,380 per 10g on June 24, gold price in India is forecast to set a new record of Rs 54,000 per 10g in Indian markets by the end of this calendar year. The upsurge in the rupee value of gold would follow similar a move in its prices