Last Updated : October 27, 2011 23:22
HSBC: Protectionism is positive for gold
By Allen Sykora A World Trade Organization report says protectionism may be gaining ground in parts of the world. If so, this is potentially supportive for gold, says HSBC.
“In the (WTO) report, it mentioned that countries might use protectionist measures for domestic industries, which would be appealing in the short term, but would have long-term implications of creating barriers to free-trade as other countries follow suit,” HSBC says.
“In the six months covered by the report, the bulk of the new restrictions came from industries mainly dealing with autos, appliances and machineries. Traditionally, protectionism is positive for gold,” HSBC added.
By Allen Sykora of Kitco News; asykora@kitco.com
MCX COPPER MINI 29 June 2012
contract was trading at
Rs 403.85 , up Rs. 5.25 . What's your view on it?
