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« Eric Sprott: Gold Shortage Coming, Data Shows | Main | German Municipalities In Crisis »
Monday
May122014

Gold price likely to moderate in medium term

While gold had a tremendous run in the last few years, fuelled by turbulence in the global economy, prices are likely to moderate in the medium term with an improving economic environment, experts said.

Nilesh Gupta, Chairman, Administrative Committee, India Bullion & Jewellery Association (IBJA) felt that there was an overall bearish mood about gold “on the part of the trading fraternity given the developments over several months in India, although there is optimism that a new government would tackle issues like high duty and the 80:20 scheme”. On Monday, gold was trading at $1,300 levels and at Rs.28,700 per 10 gram levels on the MCX.

C. P. Krishnan, Wholetime Director, Geojit Commtrade, said an improving U.S. economy pointed to a further weakening of gold price.

Mr. Gupta, however, said that the Ukraine situation impacted the price of palladium and oil but gold “only in terms of sentiment”.


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The miners have started 2014 very well indeed on the back of rising gold prices, so the question is; is this the real deal or another head fake? Is the bottom really in? Could there be a final capitulation just ahead of us? Will the summer doldrums take the PMs lower?

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