Indians buy, gold goes up

But where will the gold go? Not only market operators are asking this, but also individual savers and all those who have yellow metal jewelery in their drawer. Maybe they’re thinking of selling. The fact is that gold is hovering around 1,400 dollars an ounce. Yet someone sees a flashback, that is, a possible increase in prices. In New York gold reached $1,394 an ounce. And bullish indications for the yellow metal also came from the World Gold Council and Bank of America Merrill Lynch. According to the organization that brings together the major gold mining companies, in the second quarter the demand for gold from Asian buyers (particularly sensitive to the trend in prices) will record a new record. In particular, the WGC estimates that Indian imports will stand at 350-400 tonnes, 200% more than a year ago. Bank of America instead announced that it had revised its year-end price estimate to $1,478 per ounce.