FX.co ★ Gold market rush

In the middle of April gold demonstrated the biggest price drop, provoking the clamour. According to some sources, the possible growth this year could be a boon for the speculators.
Nigel Moffat, Perth Mint Treasurer, denoted the gold frenzy among the private investors. He said, “When we opened at 9 a.m. Monday, there was a big queue at the front door. There were people running through the gate to buy gold first. They could not miss the chance to purchase the yellow metal $200 less than a day before. It is like the Christmas sales in your favourite supermarket.”
The U.S. Mint registered record gold sales which exceeded 167,500 ounces.
China has also announced a possible spurt in the yellow metal sales. According to the estimates, imports of gold to India are projected to grow 36%. Institutional investors of the Asian region have generated a gold market rally. The gold spree in China, India, and Thailand was the most noticeable.
Meanwhile, Europe was calm and withstood the gold rally. As the Deutsche Bank experts report, the yellow metal can shed to $1,050 per troy ounce. Some other European investment organizations share such view.
Indian billionaire T.S. Kalyanaraman suggests the gold price will be 27% up by December 2013. John Paulson, a famous investor, has the same opinion. However, just a few can agree with the famous trader who has already wiped out almost $1 billion during the recent gold’s price collapse.