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.
Gold, rebounding on the bullion market on Saturday closed with a gain of Rs 55 at Rs 8,720 per ten gram, and Silver also did show surge on the market.
According to Marketmen, fresh buying by retailers and jewellery fabricators on the back of firming trend in overseas markets mainly helped pumping up the gold prices.
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.
