Gold Prices Will Rise 20 Percent Average?

MUMBAI, admin-moneyblog.blogspot.com - GFMS Ltd. Gold Research Institute predicts gold prices will continue to experience in this year's rally. Cause, geopolitical worries and low interest rates encourageinvestment demand for gold. According to GFMS, the increase of the average increase of gold in 2011reached 20 percent .

"In 2011 the average price of gold will be in the range of 1470 U.S. dollars per troy ounce and is likely to rise above the 1500 level of U.S. dollar," said Chief Executive Officer of GFMS Paul Walker from London yesterday.

Based on Bloomberg data, contracts an average gold price for quick delivery in the past year in the range of 1226.72 U.S. dollars per troy ounce.

Gold price increase has occurred for ten consecutive years. Soaring costs of the sleek yellow is due to investors' attempts to protect his property along with the high inflation and currency turmoil.

Well, today the price of gold traded near its highest level in two weeks due to political tensions that occurred in Libya and Yemen, as well as Japan's nuclear crisis.

"We're still bullish on gold prices. Many factors will push the gold price movement. And it will continue throughout this year and possibly in 2012, "he explained. (Barratut Taqiyyah / Cash
source: kompas.com

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