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Gold revolution approaches

In the current year investments into gold will be augmented by 60 %, experts LGT Capital Management consider. Under their prognoses, precious metal cost will prolong to break records, having risen in three months to $1300 for oz, and a year later - to $1450 for oz

For precious metals gold times come. The future is foggy, and the investors frightened of the european crisis wish to defend the tools from possible shocks. In this situation gold becomes "smooth water". The proximal 12 months of patterns "gold-rush" will embrace, experts assume. Under prognoses of analysts Swiss LGT Capital Management, within a month the price of gold once again will refresh a historical maximum, having risen to $1250 for oz. Before record for yellow metal there was a mark of $1249,4 for the oz, attained on May, 14th, however since then its cost has fallen approximately to 3 %.

Further - it is more. Within three months the price of gold will attain $1300 for oz, experts consider, and in a year will take off to a mark of $1450 for oz.

The Reason of such raise are "pavors and vaguenesses concerning the future" which one raise demand of investors for precious metals, reduces record LGT agency Bloomberg. In the company forecast that investments into gold can jump in 2010 on 60 %. So, the investment demand for gold ingots will be augmented to 300 tons from 187 tons last year, and in 2011 will attain 400 tons. Thus demand for gold jewels can grow on 3,8 % - to 1,825 thousand tons against 1,759 thousand tons in the past To year, forecasts LGT.

The Gold value grew following the results of nine years on end, having augmented from the end of 2005 more than twice. "For the 12-month's season the present gold revolution will start, - experts LGT note. - We learn new records of nominal prices by June, 2011 in the order $1450 for oz against gold advance already second decade".

However, the analysts stress, sales of load by the International currency fund (IMF) can render restraining affecting the market. "IMF Sales can influence the prices, specially during a summer slack period when demand for gold jewels decreases", - they have stated.

We Will resemble that in September of past year the IMF board of directors has made a decision about implementation of 403,3 tons of gold. In the end of the year of 212 tons from this size India, Mauritius and Sri Lanka have redeemed, and 200 tons were necessary on a share of India. The IMF Rest implements on the open market, in particular, in February 5,6 tons have been sold, and with allowance for March sales the fund needed to be sold 167,2 tons. Thanks to sale of a unit of a gold holding the IMF net profit the past financial year which has completed on April, 30th, has jumped to $5,7 billion from $204 million year before.

Earlier other experts also forecast growth of the gold prices as soon as possible. So, analytics JPMorgan Chase and Co. Stated that by the end of June of a gold price will rise to $1250 for oz, and according to experts Credit Suisse Group, by the end of a third quarter gold will cost $1250-1350 for oz. Specialists Goldman Sachs, in turn, consider that in 12 months the gold value will grow to level of $1335 for oz.

During the London auctions on Thursday gold with immediate shipment was traded in the afternoon in the order $1185,5 for oz. Following the results of the auctions the day before the price has failed on 2,6 % that became record decrease since February, 4th.


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