Gold settles at $1661.80

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FXstreet.com (Barcelona) - Analysts are split on the outlook for gold price the year ahead. However, based on the World Gold Council's data, overall gold demand in the first 3 quarters in 2012 fell about 8% YoY although ETF demand and official sector purchases grew.

According to Austin Kiddle at Sharps Pixely, "A turn in investment demand for gold will not bode well for gold prices. Chartists pointed out that buyers and sellers of gold have been struggling to gain control of gold prices in the past five quarters, and expected more range trading in 2013."

However, most people agree that the central bank demand and the continued money printing by the major central banks will put a floor to the gold prices. At the time of writing the price of gold has settled in the area of USD $1681.80, up +$6.00 in these moments.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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