It is not to have the hand: the price of gold per fine ounce is currently at around 1200 dollars and a significantly lower level so, for example, three months ago. Konstanz, 10.07.2013. That still cause trust (CGT) Gold no problems at the Fund by Canada, on the contrary this opportunities arising – in CGT’s Managing Director Peter Prasch interview speaks. Editorial: Can you give us your assessment of the current gold market? Peter Prasch: The decline in the price of gold has many causes and is owed according to opinion of experts not sustainable, but the financial markets. After all, the American Investment Bank Morgan Stanley is still a price-level target for 2013 $ 1409. First of all, we have seen a sheer exodus of gold investment, for example, of gold ETFs. Several hundred tonnes have given them since the beginning of the year in the market. Their players work extremely quickly and cyclically, rather bet on rising or falling gold prices instead of gold as a stabilizing element in the portfolio to keep.
An additional amplifier came through the Fed fed. When they announced a week ago, to operate a less expansionary monetary policy, the dollar attracted. The stronger exchange rate is but to the detriment of non-dollar area. For example, the Japanese yen is to name a few, whose Kurs last year since October has lost 30 percent to the U.S. dollar. And not all factors that currently come together. Editorial: And what positive developments do you see? Peter Prasch: We all know that especially fundamental messages determine the market in the long term.
Also gold at last, the world’s population but isn’t and therefore the demand is increasing steadily. And who had assumed that the described sales wave can influence the physical market, which was wrong. Just from the Asian region was and demand for physical gold is very large, combined with high sales figures.