No. of views : (1915)
Gold rates to hit new high in 2018
Posted on: 09/May/2018 11:53:58 AM
Gold Fields Mineral Services GFMS, a part of Thomson Reuters reported the high prices of the precious metal to hit a new record of strongest annual price considering the last five years.
GFMS states the political uncertainty as the main reason for this price inflation of gold averaging to $1,360 an ounce this year that is 8 percent higher than the year 2017. There is a clear prediction for gold to hit the range of $1,500 that happened earlier in 2013.
The Gold Survey conducted by GFMS mentioned in their official reports that the political instability and uncertainty as the result of Donald Trump’s Presidential rule, the Brexit negotiations and also the concerning Middle East issues entirely diverted the uniformity in the price rates of the precious metals leading to new high mark in the 5 year graph of gold rates.
Retail Investment is expected to rise in 2018 after four consecutive years of decline. The main reason is credited to pick-up in bar demand happened as the result of price rising expectations among buyers.
GFMS also recalled the Chinese Central bank to continue the purchase of Gold that will surely lead to an increase in the rates demanding more than 400 Tons. This was a rare scenario occurring for the first time since 2015.
