global investment bank Goldman Sachs Group Inc, led by Jeffrey Currie has raised
their price forecast for gold. The banks’
analyst predicts that over one year the gold price will climb to USD 1,425 per
ounce – a level not observed in more than 5 years
concern surrounding recession hitting the United states have raised the demand
for gold from investors who seek to bet on protective assets in their
portfolio. In addition, uncertain geo-political situation has also got elevated
its demand from the RBI.
Apart from Goldman Sachs forecast, back to MCX Gold, Gold prices on Friday
jumped by Rs 120 to Rs 32000 per 10 gram in futures trade as speculators broadened
their bets, amid a strong trend overseas.
in the Multi Commodity Exchange (MCX), for delivery in February was trading
higher by Rs 120, or 0.38%, to Rs 32,000 per 10 gram. Likewise, gold for March delivery
edged higher by Rs 136, or 0.43% to Rs 32,108 per 10 gram with a business
volume of 115 lots.