Gold may rise above a record $2,000 an ounce this year as concerns about slowing economies, low interest rates and debt crises boost investment to an all-time high in the second half,
Investment will climb to 1,069 tonne this half from 624 tonne in the first six months, the London-based researcher said in a report. Net purchases by central banks will jump to 336 tonne this year as jewellery consumption stays little changed, it said. The metal reached its current record of $1,921.15 an ounce on September 6.
Bullion is headed for an 11th straight annual gain, the longest winning streak since at least 1920, as investors diversify away from equities and some currencies. Central banks are expanding reserves for the first time in a generation as holdings in exchange-traded products backed by the metal total more than all except four central banks.
Investment will climb to 1,069 tonne this half from 624 tonne in the first six months, the London-based researcher said in a report. Net purchases by central banks will jump to 336 tonne this year as jewellery consumption stays little changed, it said. The metal reached its current record of $1,921.15 an ounce on September 6.
Bullion is headed for an 11th straight annual gain, the longest winning streak since at least 1920, as investors diversify away from equities and some currencies. Central banks are expanding reserves for the first time in a generation as holdings in exchange-traded products backed by the metal total more than all except four central banks.
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