Commodities Which Will Outperform In 2013
By SiliconIndia
Gold:
From the last 12 years, the price of the yellow metal has been rising consistently. This year, the rise has been 13 per cent to Rs.30,625 per 10 gram.
"With concerns about inflation and currency devaluation and anticipation that governments across the globe will do more to boost growth, the demand for the yellow metal is expected to scale a new high in 2013," says Krishnan of Geojit Comtrade.
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"We do not expect any meaningful solution to the European debt crisis. We feel gold can move up further if the European debt crisis worsens in 2013. Therefore, one can go long at Rs.31,200-31,400 per 10 gram with a stop-loss below Rs.29,900 and a target of Rs.33,000-33,500 on the upside," says Kunal Shah, head, commodities research, Nirmal Bang Commodities
Due to possible pickup in demand from India, could also push prices up.
The World Gold Council says the Indian market is showing positive signs with jewellery demand rising 7 per cent and investment demand 12 per cent in the July-September quarter.
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