Gold prices to hover around $640 to 680 per ounce in Q4
07 Sep '06
2 min read
Gold prices expected to be range bound Gold prices have been volatile in the recent past; rising to nearly $ 700 per ounce in May 2006, before falling equally sharply to around $ 580 per ounce. The high prices have affected demand in the first few months of 2006; overall demand for 2006 is expected to decline by 5 per cent.
In the next few months, gold prices may pick up aided by dollar depreciation and robust demand from ETFs and pension funds; however, the key risks are from a slowing world economy and rising interest rates. Based on a detailed price forecasting model, CRISIL Research forecasts prices to be in the range of $640-680 per ounce in 4Q2006.
CRISIL is India's leading Ratings, Financial News, Risk and Policy Advisory company. CRISIL's majority shareholder is Standard & Poor's, a division of The McGraw-Hill Companies and the world's foremost provider of independent credit ratings, indices, risk evaluation, investment research and data.
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