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Do you expect gold to cross 20,000 in next few months?

Created by : Esha Johar, Risk Analyst, Irevna  | 12 03 2009 07:19:23 +0000
Industry : Investment BankingFunctional Area : India(Markets)
Keywords : dollar gold
Activity:  466 views;  last activity : 07 06 2010 20:18:09 +0000

These days, a combination of dollar weakness, a huge build up of December call options at $1,200 an ounce (31.10 gms) and rumours of possible central bank buying led to gold making a record high for the second straight session. However, now that the psychological barrier of $1,200 has been breached, analysts expect a correction before a fresh rally gets under way.

http://beaut.ie/blog/wp-content/uploads/2008/07/gold-coins-images.jpeg

On Wednesday, overseas spot gold hit a high of $1,217.23 before trading at $1,210.5. Apart from the options build-up and rumours of market purchases by central banks, the rise in gold prices was fuelled by a fall in the dollar on the back of intervention required to rein in the yen, which opened at a 14-year high to the dollar this week.

So, users, do you think Gold can cross 20,000 in next few months?

  
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India's as well as world's foundation for banking business is gold! Without banking business there is no economy! tendency to gain value for gold is quite natural and will in line with inflation, gold price for 10 grams will reach not less Rs.25,000/- by 2015.
By RAMANATHA PRABHU N, Chartered Accountant  12 03 2009 07:42:38 +0000
 
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The Indian effect on gold demand is depleted by now because neither the any Indian festive occasions is there nor government of India is going to buy more gold for its coffer. There is some technical changes likely to start from 15th December 2009 in the solar energy cycle that will slow the rate of rise in gold price. Hence it is expected that gold will not be able to touch 20,000 figure. On the opposite the price will decline.

Miccrosolar Brain
By Kanti Mohan Pandit, CEO/MD/Director, Center- Business Intelligence & Forecasting Cal  12 04 2009 13:03:33 +0000
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i think dis is gonna happen v soon because these days, a combination of dollar weakness, a huge build up of December call options at $1,200 an ounce (31.10 gms) and rumours of possible central bank buying led to gold making a record high for the second straight session. However, now that the psychological barrier of $1,200 has been breached, analysts expect a correction before a fresh rally gets under way.
By cool , abc  | 12 04 2009 11:10:08 +0000
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Yes it seems it will because the markets will take some more time to become attractive enough to pull money from gold investments.
By SUMEET DIKSHIT, Real Estate Transactions & Advisory, Real Estate  | 12 04 2009 09:03:51 +0000
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Well friends Gold touched $1223, Now weather it will cross Rs.20,000.00 level depends upon $ rupee repo rate but as i see Gold analysis, next target is $1251 and $1277, be careful any where in between these two prices Gold can take correction and it will be 8% to 10% approximately. Chances of going up are their ,reason invester loosing faith in currency + demand, but it must trade and settle above $1208, then only it will take the target of $1251 & $1277, and for sure may can touch Rs.22,000.00 level. If in long position must put stop-loss.About 9 months back I wrote here only that Gold will touch $1200 for sure and it has been done. It is quite possibal that after taking correction Gold starts going up and $ too.Both in same direction.

Happy Trading
By R.K.MALHOTRA , country head  | 12 04 2009 06:30:11 +0000
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http://ianalysis.blogspot.com/2009/11/future-of-gold.html  find the ans here why.22000-25000 gold
By INDRANEEL SEN GUPTS, Security/ Equity Research Analyst, ianalysis.com  | 12 03 2009 08:32:41 +0000
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Yes, even i am confident on the value of Gold appreciating with coming time.  However, i feel before touching those 20k levels it will come down to around 17.5-18k levels and then move up gradually... However, this level can be met by Jan end or Feb begining, 2010....Also lets not forget to thank RBI for their 200 tons of Gold purchase!! ... So Lets wait n watch... Thank you, Manish N.

Cheers!!
By Manish N Chugh, Officer Trainee, Stock Holding Corporation of India ltd.,  | 12 03 2009 07:39:52 +0000
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Despite the price at the stratospheric level, marriage season buying had been continuing across its stores as consumers are wary of prices escalating from current levels. Also in the next few months, many festivals are also coming up which will also result in lot of Gold buying. With so much of buying in Gold, I don't achieving this target of 20,000 will be a big challenge.
By Esha Johar, Risk Analyst, Irevna  | 12 03 2009 07:19:23 +0000
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Dont think so.. experts make an opinion that correction will be around 18 000 , there may be possibility, because gold market shows some symptoms. 
By Reni sebastian, Assistant Engineer, State government of Keralam  | 12 04 2009 15:25:56 +0000
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It is in the dangerous zone, everybody in the street are buying gold for speculation and it is a clear sign of
By Prasad PN, Zonal Sales Manager  | 12 04 2009 15:17:19 +0000
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I don't agree, India just recovered from a big recession and is still not fully recovered. Though, our economy is getting stronger, still we havn't made any big achievement. In this season, i.e, at the end of the year, increase in the sell of the gold in not unnatural since majority of the festival occurs at this time. But what after this season is over, I don't think many people will be interested. So, going upto a margin of 20000 is not easy...
By Rakesh Chakraborty, Sr. Associate, ING  | 12 04 2009 05:05:27 +0000
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