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Gold likely to touch Rs 21,300 by May\'


Gold likely to touch Rs 21,300 by May\' 
New Delhi : India | Feb 27, 2011
Source: The Financial Express

 Gold likely to touch Rs 21,300 by May' Agencies Posted: Sunday, Feb 27, 2011 at 1022 hrs IST Financial services provider SMC Group on Sunday said gold and silver prices are expected to touch Rs 21,300 per 10 grams and Rs 52,000 per kg, respectively by 
Financial services provider SMC Group on Sunday said gold and silver prices are expected to touch Rs. 21,300 per 10 grams and Rs. 52,000 per kg, respectively by May.

With FIIs and other major investors gradually withdrawing their money from the capital markets, substantial fall has been witnessed in Sensex and Nifty.

Due to this "gold and silver are likely to remain major epicenter for investors even in stiffer price bracket," SMC COMTRADE Managing Director D K Aggarwal said.

The stock market has plummeted by 13.69 per cent in the year yet.

FIIs total investment in debt and equity has come down to Rs. 1.37 lakh crore so far in the current fiscal from Rs. 1.42 lakh crore in 2009-10.

Investors would continue to park their surpluses in gold and silver as demand for the precious metals is likely to pick up in the near future, Aggarwal said.

On February 24, silver prices touched Rs. 50,500..

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