InvestorsHub Logo

Lamberjack

08/20/11 11:41 AM

#41 RE: SuperMike #40

Gold approached $ 1,900 per troy ounce (31.1 grams) yesterday, strengthening betting that the price will exceed U.S. $ 2,000 this year.The demand, driven by purchases by central banks in recent months, should continue in heated second semestre. According to the World Gold Council, these institutions will continue to acquire the metal to restore their reservas.Com increased uncertainty about the economy, governments seek to reduce dependence on currencies that traditionally make up these reserves, as dólar.No second quarter of this year, central banks bought 64.9 tons of gold, up from 14.1 tonnes in the same period 2010.Trata is the second largest volume of purchases by central banks on record since they came to acquire the metal in the second quarter of 2009. "The impact of the credit crisis European countries, the downgrading of U.S. debt notes, inflationary pressures and weak outlook for the economy of the west will lead to greater demand for investment gold," said organ. At the same time, the prosperity of emerging economies such as India and China to boost the demanda.No case of these two countries, traditional consumers of gold, the occurrence of holidays and festivals in which sales of gold jewelry are common to increase search for the precious metal in the second semestre.Entre April and June, the global demand for gold was 919.8 tonnes. China and India accounted for 52% of demand for investment (gold coins and bars) and 55% of sales for the production of joias.A purchases by central banks is also concentrated in emerging markets, especially Russia, which bought 26 tons in the second quarter.