Thursday, 12 April 2012

MCX Gold Could Peak in 2013 after 12 year

A record high MCX Gold price above USD 2,000 an ounce next year could mark the peak of the precious metal's more than decade long bull run as monetary policy in key economies starts to tighten, the chairman of metals consultancy GFMS said on Wednesday. You have get more information about Free mcx gold tips visit the site

"We are expecting still that we are going to see a push above USD 2,000 in 2013, but it may be that 2013 marks the high water mark for the market," GFMS chairman Philip Klapwijk told Reuters.

"It depends (on whether) we see some resolution in Europe, enough to really take some of the sting out of that issue an end to stimulus measures in the United States and the prospect of a normalisation of monetary policy."

The market is expected to rise to new highs by early 2013 after struggling this year against a backdrop of softer demand in key physical markets and slackening investment appetite for bullion, Klapwijk said.

MCX Gold prices are likely drive above USD 2,000 as concerns over the euro zone debt crisis persist and the idea of more U.S. monetary easing gains support, he said.

But that move could be short lived as those factors dissipate, particularly if the prospect of higher U.S. interest rates becomes a reality the following year, he said.

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