AHMEDABAD (Commodity Online) : Gold was one of the top-performing assets in 2011, giving investors a return of almost 32 percent due to continuous increase in Euro zone debt issue and fear of economical worry from US. Silver shed high volatility due to low industry demand and moderate demand in 2012.
The Industry metal enters the New Year on an doubtful footing and looks to have mislaid its safe-haven status. Gold fell heavily in December as hedge funds scrambled for Liquidity to meet client redemption. European banks also cut their Gold holdings to raise capital.
The yellow metal was on course for a rise of about 32 percent for 2011, But it is down around 7 percent from a record high in November. Physical buying of Gold was up, with falling Gold price pushing up demand in India, jewelers who began restocking and preparing for the wedding season beginning in mid-January.
In beginning of 2012, Gold will remain in range of 26000 – 28000 rupees per 10 grams. Demand prospect may boost Gold prices in month of February. But overall Gold momentum has turned slightly bearish for beginning of 2012, informed Amrita Mashar, analyst with Commodity Online.
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