Despite what many bearish naysayers are predicting, gold’s future is pretty bright. We are excited to see how it performs in the coming months.
New York, NY (PRWEB) April 03, 2013
Gold finally showed a monthly gain in March, when it closed up 1.56%. The yellow metal had not performed as well in the two months prior, closing down 1.02% in January and showing a 5.54% loss in February. Despite its positive performance in March, gold is still down 5% for the first quarter of the year.
The gold price was strengthened in the latter half of March by safe-haven buying in response to the bank crisis in Cyprus. Among the factors analysts expect to see affecting the gold price in April are increased demand in India during the country’s wedding and festival season; uncertainty over the situation with North Korea; and strong purchasing managers index (PMI) data coming out of China.
“We are in an uncertain market,” said managing director of GoldSilver Central Pte Ltd in Singapore, Brian Lan. “Normally a strong PMI data from China would tend to draw investors towards stocks and not support gold prices, but this time we see a reverse. The North Korea tension is adding to the market uncertainty.”
Arthur McGuire, Vice President of Gold Price, says “We are expecting gold to see a much more positive second calendar quarter. The Indian wedding season demand will have a huge effect on the gold price and economic uncertainty seems to only be piling up around the globe. Gold has also been experiencing 21-22 month peak cycles over the last five years, and that cycle is due to peak once again sometime in May or June. Despite what many bearish naysayers are predicting, gold’s future is pretty bright. We are excited to see how it performs in the coming months.”
Since 1992, Gold Price (GoldPrice.net) has been a leading precious metals advisor with headquarters in New York, California, Texas, Utah, New Mexico and Puerto Rico. A direct gold and silver dealer as well, Gold Price specializes in purchasing, selling and trading physical gold and silver such as modern bullion bars and coins and certified rare coins. Investors can visit http://www.goldprice.net or call 1-800-767-1423 to receive a free award-winning gold starter’s kit.