Gold Prices Up in 2013

TEMPO.CO, London - The price of gold in the year 2013 is expected to rise. Citing Dailymail reports, the price of gold will reach a peak of U.S. $ 2,000 to U.S. $ 2,500 per troy ounce by the end of 2013.


While the price of gold in the year 2012 also rose by 6 per cent or U.S. $ 1,674 per troy ounce. The increase is due to the euro zone investors seeking safe investments, quantitative easing (QE) from the government of the United States, demand for gold from central banks, and supply problems in South Africa.

In November 2012, when the U.S. central bank releases third round of QE policy, the price of gold at U.S. $ 1,800. Since then, central banks increase gold reserves, particularly in developing countries due to concerns over the value of paper currency.

Since 2009, the government sector are becoming net buyers of gold for the central bank to reduce the number of gold sales. Gold is also likely to be classified in the highest banking assets.

In addition, the important thing is there has been a growth backed by physical gold "index funds" that track the price of gold. In the third quarter of 2012, ownership of index funds (Exchange Trade Fund / ETF) globally increased by 189 tons or an increase of 56 percent from the previous year. This increase was a record in an index mutual fund product types SPDR Gold Trust.

DAILY MAIL | PRINCESS FIONA Hashim
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