VTB Capital held a roundtable breakfast discussion in London. The topic of the meeting was “The changing dynamics of the global gold market: Back to fundamentals.”
Andrey Kryuchenkov, Commodity Market Strategist at VTB Capital, discussed the immediate and long-term future of gold prices, as well as implications of the current changes in market dynamics.
Andrey Kryuchenkov said: “We expect the market to stabilize ahead of 4Q 13. A possibly strong rebound in India’s jewellery purchases in 4Q13 would still help support firmer gold prices toward the end of the year. But, the upside will still be limited by a potentially robust US currency before year end and into 2014.”
The event was attended by financial journalists, academics and researchers.
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