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| Updated: 1 Aug,2005 |
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1 Aug, 2005
Gold demand in China, for New Years and India's weddings should cause gold
to push above 450/ounce, as jewelers stock up for the up coming holiday seasons.
Even though European central banks will dump some gold on the market, the
expected demand should be much greater than the bank sales of gold, surveys
show. Many speculators have been sitting out of gold recently, but some of them are expected to jump onto the gold band wagon, to partake in the expected profits of the rise in price towards years end. In my opinion, $450/ounce is real conservative for a 31 December gold price, but a $500/ounce price for December 31 gold is not out of the question. |
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Charles Kubach Mine-Engineer.Com Return To Gold Page |
