Sat, Oct 25, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

NESDB chief: Gold price drop temporary

Posted on 22 May 2013

The decline in the global gold price will be only temporary and will rebound on speculation that Italy and other countries in Europe may have to sell gold reserves for debt repayment, the head of the NESDB said on Tuesday. National Economic and Social Development Board (NESDB) secretary general Arkom Tempitayapaisit said he disagrees with an analyst at a foreign bank who forecast that the gold price is now on a five-year downward trend and will fall below US$1,000 per ounce. The gold price on Tuesday evening in New York was $1,380.16 per ounce.
It would be difficult for the gold price to continue downwar for five years, he said. Gold is held both as a reserve and as a speculative commodity……………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 37629 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
October 2014
S M T W T F S
« Sep    
 1234
567891011
12131415161718
19202122232425
262728293031