Standard Bank PLC forecasts prices will clilmb this year as central bank stimulus and record low interest rates spur demand for a protection of wealth.
(PRWEB UK) 5 April 2013
In a survey of gold analysts, Bloomberg have found that 12 expect prices to rise next week, while 12 think it will be bearish and three were neutral.
Commerzbank AG have said it’s too early to call an end to gold's rally, while Standard Bank PLC forecasts prices will climb this year as central bank stimulus and record low interest rates spur demand for a protection of wealth.
Commerzbank said in a March 21 report that gold will climb to an average of £1,800 in the fourth quarter, while the Standard Bank is predicting prices as high as $1,780 in the third quarter. The banks cite demand for alternative currency, protection from Europe’s debt crisis and low real interest rates among their reasons.
A spokesperson for Physical Gold said:
“There is divided opinion on where gold prices will go this year, but with an uncertain global economy and loose monetary policies from central banks, gold should remain fairly strong. With predictions from banks of high gold prices later in the year, gold investment is an extremely worthwhile route for protection of wealth.”
Physical Gold Ltd is a leading UK gold dealer, helping investors diversify their portfolios with innovative investment solutions. Renowned for their ground breaking products such as the Sipp gold and Gold Accumulation Account, the firm specialise in providing customers with tailored assistance in sourcing the best gold for their personal requirements. Based in London, the team are BNTA accredited and have an unrivalled knowledge of the gold market as well as an exceptional understanding of the general financial markets.