As per previous reports from World Gold Council, the prices for yellow metal are likely to go up as the festive season starts in India. The latest reports have pointed out that the demand for Gold in India will rise as the income for various groups has increased. The gold demand may touch US $20 billion by 2010 and by the end of year 2015, it could be well above US $30 billion.
GFMS CEO Paul Walker has predicted Gold price to touch $700 per ounce by the end of year. The reason behind this is weak outlook for the US dollar and sub-prime worries in United States. Mr. Walker further stated “The sub-prime issue is just the tip of the iceberg. It is symptomatic of a larger malaise in the system.” He was in Mumbai for fourth India International Gold Convention.
A big part of Delhi’s population has blocked jewellery shops on Wednesday, to purchase 
Gold price is on the rise!
GFMS CEO Paul Walker has predicted Gold price to touch $700 per ounce by the end of year. The reason behind this is weak outlook for the US dollar and sub-prime worries in United States. Mr. Walker further stated “The sub-prime issue is just the tip of the iceberg. It is symptomatic of a larger malaise in the system.” He was in Mumbai for fourth India International Gold Convention.
