Gold prices are expected to plummet to even $950 per oz as some of the arguments for holding gold has become less relevant, Natixis Commodity Markets said
The trade summery issued by market regulator FMC on Friday, showed bullions trades on the commodity exchanges in India shooting up 138.57% for the fortnight ending 15th July 2010.
Analysts attributed recovery in gold prices in futures trade to a firming trend overseas on weakening dollar against basket of currencies, raising appeal for the precious metal. Apart from recovery in global markets, better trend at the physical markets on pick up in demand at prevailing levels, also helped gold to trade higher.
Polishers of Surat do not have inventories full after the recession. They source rough diamonds according to orders. For last some months, prices of polished diamonds have not increased in line with rough diamonds. We hope that additional and regular supply of rough diamonds from Zimbabwe will have an effect on its prices.