The FCF Group Now Forecast Gold to Return to Record Prices
New York, NY, October 03, 2012 --(PR.com)-- The FCF Group have reported that with the current fundamentals at play in the market Gold will soon return to record prices, beating the $1,920 record set in September last year. Charles Haye, senior analyst with The FCF Group stated, “Investors are now returning to the gold market after seeing what possibilities it now offers, they are set to buy record quantities in the second half of 2012.”
“Thomson Reuters GFMS, which produces benchmark supply and demand statistics for the gold market have also forecast that the fresh wave of investor interest would drive prices sharply higher and when Reuters make such comments the markets listen,” Haye added.
“We could see a drive to $1,850-plus over the next couple of months as forecasting shows investors could buy more than 973 tonnes in the second half of 2012, that is 30% more than the frenzied market of last summer.”
Gold prices hit a record nominal high of $1,920 last September.
Haye reminds investors “However, in the past three weeks, the announcement of further quantitative easing from the US central bank has reawakened interest in the precious metal, lifting prices by 6.3 per cent to hit a peak of more than $1,770, that price is the highest in nearly six months.”
Haye’s comments were supported by Philip Klapwijk, head of metals analytics at GFMS, Klapwijk said “The Federal Reserve’s loose monetary policy will now drive the gold rally with further expected European policies also encouraging fresh investments in gold. QE3 has become talismanic now,” he said.
Haye also advised that “Beyond the US, there is more than just the likelihood of fresh action from the European Central Bank to address the eurozone debt crisis, together with the possibility of economic stimulus policies in China, this would make further investments in gold a given.”
Mr Klapwijk also forecast that “Gold prices would reach new records above $2,000 – possibly by year end 2012 if not in the first half of next year.”
The market has also been buoyed by a sharp rise in demand from India, the largest gold consumer; consumption has risen by 30 per cent year on year in the first half.
“At the same time, central banks have also stepped in to support the market. As a group, central banks and other 'official sector' buyers, such as sovereign wealth funds, acquired 273 tonnes of gold in the first half,” Haye concluded.
About The FCF Group
www.thefcfgroup.com
The FCF Group is a client friendly commodity futures firm that puts the needs of the client ahead of its own. We are dedicated to providing the best service available in the futures industry today and to provide our clients with the tools that can assist them in becoming more successful in their commodity trading. We want to help you learn and we want to help you trade!
Our Commodity Brokers look forward to helping you achieve your trading and investment goals. You have our guarantee that that we will strive to provide the highest quality of service, the patience you need, and the knowledge you expect in a market leading commodity futures brokerage.
“Thomson Reuters GFMS, which produces benchmark supply and demand statistics for the gold market have also forecast that the fresh wave of investor interest would drive prices sharply higher and when Reuters make such comments the markets listen,” Haye added.
“We could see a drive to $1,850-plus over the next couple of months as forecasting shows investors could buy more than 973 tonnes in the second half of 2012, that is 30% more than the frenzied market of last summer.”
Gold prices hit a record nominal high of $1,920 last September.
Haye reminds investors “However, in the past three weeks, the announcement of further quantitative easing from the US central bank has reawakened interest in the precious metal, lifting prices by 6.3 per cent to hit a peak of more than $1,770, that price is the highest in nearly six months.”
Haye’s comments were supported by Philip Klapwijk, head of metals analytics at GFMS, Klapwijk said “The Federal Reserve’s loose monetary policy will now drive the gold rally with further expected European policies also encouraging fresh investments in gold. QE3 has become talismanic now,” he said.
Haye also advised that “Beyond the US, there is more than just the likelihood of fresh action from the European Central Bank to address the eurozone debt crisis, together with the possibility of economic stimulus policies in China, this would make further investments in gold a given.”
Mr Klapwijk also forecast that “Gold prices would reach new records above $2,000 – possibly by year end 2012 if not in the first half of next year.”
The market has also been buoyed by a sharp rise in demand from India, the largest gold consumer; consumption has risen by 30 per cent year on year in the first half.
“At the same time, central banks have also stepped in to support the market. As a group, central banks and other 'official sector' buyers, such as sovereign wealth funds, acquired 273 tonnes of gold in the first half,” Haye concluded.
About The FCF Group
www.thefcfgroup.com
The FCF Group is a client friendly commodity futures firm that puts the needs of the client ahead of its own. We are dedicated to providing the best service available in the futures industry today and to provide our clients with the tools that can assist them in becoming more successful in their commodity trading. We want to help you learn and we want to help you trade!
Our Commodity Brokers look forward to helping you achieve your trading and investment goals. You have our guarantee that that we will strive to provide the highest quality of service, the patience you need, and the knowledge you expect in a market leading commodity futures brokerage.
Contact
The FCF Group
Sarah Myers
+44 (0) 207 0606604
Sarah Myers
+44 (0) 207 0606604
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