NEW YORK (Commodity Online): Gold will not only give positive returns in 2012, it will actually perform better than its 2011 gains, says Marcus Grubb, Managing Director of Investment Research at the World Gold Council (WGC).
Speaking in a Bloomberg interview, Marcus said that central bank purchases of gold are more stronger than ever while pointing out that major buying is coming from the Far East nations and Latin America – regions who have low reserves in gold and are looking to diversify from the US Dollar and the Euro so as to balance their reserves.
Marcus goes on to add that India accounted for nearly 1000 tonnes of the 4000 tonne global gold market and the weakness of the rupee may have affected Indian imports since gold became more expensive. Going into 2012, gold will have to face this rising risk.
Earlier, it was reported that the WGC is planning to tie up with 5 more micro-finance institutions by March in a bid to push gold-linked micro finance scheme deeper.
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