Gold Seen Rallying by End of Year as Physical Demand Gains

“Gold may extend a rally through to the end of December, paring the first full-year loss since 2000, as rising physical demand across Asia helps to counter a selloff in exchange-traded products led by billionaire John Paulson.

Prices may reach $1,450 an ounce by the end of the year, according to a median of estimates in a survey of 11 traders, jewelers and analysts who attended the India Gold Convention in Jaipur on Aug. 16-17. The metal, which was at $1,382.89 today, fell 17 percent this year.”

 

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