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Gold price seen averaging $1770 in Q4: GFMS

Posted on 13 October 2011

The price of gold is expected to average USD 1,770 per ounce in the fourth quarter, Thomson Reuters GFMS said on Wednesday, adding that official net purchases of gold were seen rising to 500 tonnes in 2011, from its prior estimate of 336 tonnes.
Thomson Reuters GFMS global head of metals analytics Philip Klapwijk said the consultancy’s base scenario until 2013 was for the gold price to peak next year and then trend lower……………………………………….Full Article: Source


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