Daily Management Review

Gold Prices Are Climbing A Rising Curve On the Price Graph, Says Analysts


08/24/2015


Analysts have predicted that the gold prices are likely to rise releasing the lowest gold exchange deposits at a good price.



Gold Prices Are Climbing A Rising Curve On the Price Graph, Says Analysts
Leading industry analysts at a conference have said that in the next couple of months, people should not be surprised to see that prices of gold rise to levels above $1200 an ounce. With a weakening global economic scenario, choppy financial markets as well as the devaluation of the yuan have boosted the price of gold.
 
The price of the metal has been on the rebound from 5th July onwards and has risen by almost 8%. Its rise has been further boosted by policies emanating out of the Federal Reserve’s last meeting that dented expectations of an interest rate hike in the U.S. Last Friday saw spot prices hit their peak at $1168.40.
 
"After the devaluation of the Chinese currency, people are worried. They are afraid of a currency war. They are going back to gold," said RajanVenkatesh, head of India bullion at ScotiaMocatta, which is part of Canada's Bank of Nova Scotia. He expects prices to rise to $1,230 to $1,240 levels within a month’s time.
 
Valcambi is one of the biggest gold refiners of the world whose chief executive officer, Michael Mesaric is of the opinion that the wait for the lowest price of gold-deposits that prevailed from the year of 2008, will now end soon. The gold exchange trade funds will be soaring upward once again and the prices of gold will hit “$1,350” by the middle of 2016, expects Mesaric.
 
The recent “bounce” has put the gold market under a “heavy pressure” for the analysts expect a rise in the rates of the Fed which would be in timely for “holding non-yielding bullion” amid the strengthening drive of dollar. It is an opportunity cost that has arrived almost after a decades of waiting. However, all analysts are not of the same view, as the founder of RPMC, precious metals consultancy based at Dubai, Jeffrey Rhodes believes that:
"All the bad news for gold is in the press".
Although, looking at the eastern markets of China, Greece and India Rhodes sees a rising demand of gold amid their “depreciating” currencies:
"There is room in the world for strong dollar and strong gold. And strong gold is an alternative to emerging market currency."
 
 
Source(s):http://www.reuters.com/article/2015/08/22/us-gold-prices-idUSKCN0QR0MO20150822







Science & Technology

Scientists Discover Largest Ever Under Water Volcanic Eruption Near New Zealand

Bitcoin craze increased load on the power grid to the maximum

PC And Server Performance Slows Down Due To Security Patches For Chip Flaws, Says Microsoft

Cybersecurity Firm Claims Cryptocurrency Monero Might Be Getting Funneled To North Korea University

The Way We Travel Will Be Changed by The Colorless, Odorless Gas - Hydrogen

EU's Big Change In Data Protection Rules Makes Businesses To Get Ready For It

Artificial Intelligence Helps NASA Find An 8th Planet In Orbit Of A Distant Star

Australian Research Success Could Mean Shatterproof Cell Phones Could Soon Be A Realityv

Top ten hi-tech events of the year

Tesla Considering Designing And Developing AI Chips On Its Own To Support Its Auto-Pilot Project

World Politics

World & Politics

Both The Korean Countries Will Come Together In Olympic Talks

Parties of Germany agreed on the migrants problem

Munich Re: Natural disasters caused record damage in 2017

High-Level Talks To Be Held Between North And South Korea In Over Two Years

Sexually Abusing Children Interests An Estimated 20,000 British Men, Shows Police Monitoring Of Chat Sites

2018 Could See An Increase In Terror Attacks Where Both ISIS As Al-Qaeda Continue To Present Threats

What will happen to European populism in 2018?

Events This Year In Asia Proves How Dangerous ‘Fake News’ Can Be