Gold News

Bargain Hunters Buy Gold

A REBOUND in people Buying Gold is predicted today by a senior trader, with more people – including Indian consumers, the world's No.1 buyers – expected to Buy Gold after the price dipped.

"Bargain-hunters are in the market" Buying Gold, says Afshin Nabavi, a senior vice-president at bullion refiner MKS Finance in Switzerland.

"We have seen a nice correction and people think that the market has bottomed out."

Mr Nabavi also told Bloomberg that Gold Prices could rise to as much as $1,300 this year if the economic outlook "continues to be jittery."

"I would expect we'll have a bit of a rebound," agrees Darren Heathcote, head of trading at Investec Australia, a worldwide investment company, speaking to Reuters.

"We expect to see Indian buying reassert itself," said Dennis Gartman, a leading financial analyst. The current dip will be "an opportunity to own more, not less Physical Gold."

Last week, Swiss bank UBS's chief gold analyst Edel Tully reported that "Physical demand is starting to perk up in regions that have been quiet for some time. Yesterday, our sales to India were noticeably higher" – the highest since January according to Bloomberg.

Roy Peel is working as a research assistant at BullionVault, the world's No.1 gold and silver ownership service for private investors.

See the full archive of Roy Peel articles.

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.

Follow Us

Facebook Youtube Twitter LinkedIn



Market Fundamentals