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Gold prices to reach $2,000 by March 2012: Scotia

Posted on 25 November 2011

Gold imports are likely to reach 1,000 tonne due to growing investment demand, while prices might touch USD 2,000 by March 2012 driven by global economic crisis, a senior SocotiaMocatta official said.

“Investor demand has compensated the decline in the jewellery consumption. The rising gold prices, which has boosted the investors appetite, may result in close to 1,000 tonne imports of the yellow metal,” Rajan Venkatesh, managing director, India bullion, SocotiaMocatta, part of the Bank of Nova Scotia, told reporters on the sidelines of FICCI ‘Gems and Jewellery Conference’ here………………………………………Full Article: Source


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