17 Feb '11, 10pm

Gold prices will rise in 2011 on surging demand (Today Online)

SINGAPORE - Gold prices are expected to get a further boost this year after hitting a 10-year high last year, the World Gold Council (WGC) said yesterday. Prices surged to a record US$1,421 an ounce in November last year on strong demand from jewellery makers and electronic-component manufacturers. Investment demand for gold also rose. For the first time in 21 years, central banks shifted from being gold sellers to buyers last year, removing a significant source of supply and driving up prices. The WGC said gold demand last year surged to 3,812 tonnes, worth approximately US$150 billion. Demand may rise this year as well, the WGC said, with gold becoming an increasingly popular asset to hedge against inflation. While the precious metal is largely seen as a physical investment in Asia, exchange-traded funds that allow investors to buy or sell the commodity-like shares in a ...

Full article: http://www.todayonline.com/Business/EDC110218-0000253/Gol...

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