US Investment Demand Gold’s Current Key Swing Factor – WGC
In the footrace between Chinese and Indian demand on the one hand and Central bank and Investment buying on the other, US investors remain the wild card.
by Geoff Candy
Mine Web
GRONINGEN (MINEWEB) – For the second half of 2012, European and US investment demand for gold will be the swing factor in deciding whether or not the year is a good one for the yellow metal.
Speaking to Mineweb.com’s Gold Weekly Podcast, Marcus Grubb, MD for Investment at the World Gold Council, said, “At the half year if you look at it across all the categories it is something of a footrace here now between India and China on the one hand, central bank buying and investment on the other, and I think that is the key really to how the second half will evolve.”
As Grubb points out, India is likely to have a fairly weak second half to the year, despite the forthcoming festival and wedding season which is traditionally a strong time for the metal. While it will be a seasonally better performance than the first half, persistently high rupee prices and a fairly poor monsoon, don’t bode well for the second half of the year.
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2012-08-20 08:10:01
Source: http://financialsurvivalnetwork.com/2012/08/us-investment-demand-golds-current-key-swing-factor-wgc/
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