Last Updated : 14 November 2012 at 12:35 IST
Silver at $38.40/oz, Gold $1,843, Platinum $1,794.9 by Sept, 2013: LBMA
Palladium could reach $724.7 an ounce, in comparison to $609 levels, London Bullion Metal Association meet said.
- Precious, base metals, Crude Oil may trade negative on weak global sentiments
- Taking cues from decline in spot gold prices coupled with weak global market sentiments, Spot silver prices decreased by 0.53 percent today. However, favourable economic data from Germany along with weakness in DX cushioned sharp fall in the prices.
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HONG KONG (Commodity Online): London Bullion Metal Association meet concluded yesterday in Hong Kong has put a price on gold and silver.
Silver is expected to reach $38.40/oz even as gold at $1,843 an ounce by the time of the next conference in September 2013.
The meet saw a confluence of miners, refineries, jewellers and bankers.
The earlier estimates had pegged prices at $1,914 an ounce which was revised on Monday.
“This year I sensed that the bullishness has moderated and there is less conviction," said Tom Kendall, head of precious metals research at Credit Suisse to Reuters.
Asia, particularly China would drive the prices of gold even as US would continue with QE measures.
The participants also expect platinum to reach $1,794.9 an ounce on supply concerns. Palladium could reach $724.7 an ounce, in comparison to $609 levels.
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