Barry Stuppler

MUMBAI: With gold prices reaching an alltime high of Rs 30,420 per 10 gm on Wednesday, investors are keen on parking their money in platinum, which is trading at Rs 28,500 per 10 gm. Analysts said it was right time to buy platinum because the metal is likely to provide nearly 30% returns by the end of the year. . . . .

Marc Faber, a normally bearish market commentator, believes gold has hit a low. Meanwhile, leading asset allocators are holding around 7.5% on average in the precious metal . . . .

The lack of notable increases in Asian central bank gold holdings is startling given that over the past decade the rise in foreign reserve assets has been growing at unprecedented levels. The Bank for International Settlements (BIS) noted in its June 2012 Quarterly Review that "central bank balance sheets in emerging Asia expanded rapidly over the past decade because of the unprecedented rise in foreign reserve assets." . . . .

Last week ended with silver pulling off a Friday recovery. The New York spot market closed with the metal at $28.68, having gained almost $1 for the day. This performance was fuelled by bad news, most notably regarding the US labor situation. After achieving a four-week high on Wednesday, silver prices have again fallen ahead of today’s trading session due to a lack of information about new monetary policies . . . .