Gold ‘to top $2k per oz’
Major Thai gold trading firm YLG Bullion expects the global gold price to top US$2,000 (B60,000) an ounce soon, causing the domestic retail price to hit B30,000 per baht-weight.
Thursday 23 February 2012, 10:42AM
YLG Bullion Vice President Pawan Nawawattanasub said the world gold price could hit US$2,000 an ounce this year, with the slowing US economy and the euro zone crisis as contributing factors.
She expects the gold price will continue its upward trend due to soaring demand triggered by the US Federal Reserve’s plan to roll out another round of economic stimulus.
Many central banks are likely to purchase more gold to hedge against foreign exchange reserve fluctuations and a weaker dollar.
–TAN
