Salient to Investors:
The median estimates of 10 importers, jewelers, analysts and trade groups expects gold imports to drop 22 percent in half2 2013.
Goldman Sachs predicts gold will reach $1,050 by end of 2014, and Credit Suisse predicts $1,150 in a year.
Rajesh Mehta at Rajesh Exports said demand will be subdued for the next 3 to 6 months.
Gnanasekar Thiagarajan at Commtrendz Risk Mgmt Services said the festival season will see reemergence of demand and at the same time expect a bumper harvest – genuine physical demand won’t moderate due to Reserve Bank of India measures.
Abundant rains have brightened prospects for a bumper harvest and increases the incomes of farmers, who invest in gold mainly as savings.
Praveen Gupta at Shree Ganesh Jewellery House (I) said people will always buy.
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