Gold Rate Strategy of Financial Year 2013
Posted on: 31/Dec/2012 3:33:48 PM
The expert�s group�s advice is to don�t expect much on gold recently there was a huge hike on Gold Price whereas the rate of single gram gold Mounted up.so that According to the Bloomberg consensus estimates, gold prices could crash 10% in 2015. RBI took steps in 2012 to discourage investors from buying too much gold. While the government doubled the import duty on the metal (blaming it for the widening current account deficit), the central bank imposed curbs on banks` investment in gold finance companies.
RBI also said that they are going to less the value of Loan Accorded for Gold Investment from 60 to 70%.The government took necessary steps to prevent the investors from the Gold but investors put their huge money in the Yello Metal.once the Pan Card is must to purchase Gold more than Rs.2 lakhs.
Factors that affected the gold price increase and made demands are Euro debt crisis, US fiscal cliff, as well as other Geo-political issues (see Gold may keep rising). The rupee-dollar exchange rate is another factor influencing domestic gold prices.though the rate increased the demand keeps on raised on the month of Festival seasons.
