Investment demand is set to drive gold in the first half of the current calendar year on loose monetary policies and burgeoning sovereign debt across global economies. Global consultancy firm Thomson Reuters GFMS in its latest Gold Survey 2012 forecast average gold price to rise to $1800 an oz for first half year ending June 2013.
According to Kitco.com, the forecast consists of 6.7% rise from the level of $1686.85 an oz average price recorded in the second half of 2012 and over 9% spurt from $1650.80 an oz the yellow metal had recorded in the comparable period last year.
