Earn From Gold in 2013
Investments in gold will be the most profitable in 2013, Bulgarian global stock and commodity markets analysts forecast. The precious metal is currently traded at around USD 1,650 (BGN 2,430) per ounce, but if its price starts to rise with this of equities and the Euro, it will probably reach USD 2,000, the head of the analyst team at "Elana Trading" Tsvetoslav Tsachev informed.
This opinion is partially supported by Jordan Kaloyanchev, the global markets broker in the investment company "Carol", who said that gold will continue to be an attractive investment instrument as many players are speculating on a long-term upward trend in the price of the precious metal.
This however may also indicate that capital has started to migrate from gold investments to to some more promising and profitable stock markets, the analyst at "Elana Trading" added.
According to Kaloyanchev, the first months of 2013 will be crucial as the price of gold did not rise despite the risk appetite of investors and the fall of the USA dollar. The first few months may even bring a decline in the price of gold to just above USD 1,500, he added.
The oil market will not fluctuate as much, the analysts said both forecasting only a slight price increase to between USD 110 and USD 120 in 2013. Thus both experts deny the possibility of oil price reaching the heights of 2008, mainly attributable to the current record production in the USA and the increasing popularity of shale gas.
Source: Standart news
(03.01.2013)