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Gold price expected to reach US$2,000

Classic Gold Future, a Thai gold trading company, predicts that the global gold price will hit US$2,000 an ounce soon, due to the continuous demand from speculators.

Thursday 2 February 2012, 10:25AM


Natee Chutavarakul, CEO of gold trading company Classic Gold Future, believes that demand will continue to push up the global gold price, which today stands at US$1,718.


Since 2011, he said, the global demand for gold has grown by 36 per cent.


Last year, Classic Gold Future’s trade volume more than doubled, to approximately 16,000 transactions for the whole year.


It peaked in August at 3,700 transactions for the month. Natee expects the trade volume to double again this year.

 

 

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