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Gold price seen lower in 2013 as investors’ demand drops: CPM

Posted on 27 March 2013

The average price of gold is expected to fall in 2013 for the first time in 11 years as fading fears of catastrophic market events prompt investors to scale back bullion purchases, commodities research and consultant CPM Group said. In its report released on Tuesday, the New York firm said it expects net buying by gold investors to drop for a second consecutive year and weigh on bullion prices, even though gold fabrication and central-bank demand will rise this year.
CPM Group did not put a figure on gold’s overall percentage price fall. In 2012, the price of gold rose 6 percent from 2011 to an average around $1,670 an ounce, it said………………………………………..Full Article: Source


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