BEHAVIOUR OF GOLD PRICE
-Dr.Debesh Bhowmik
The steady gold price was observed in the gold standard at 35$/ounce till 1971.After the breakdown of Brettonwoods , the gold price steadily increased upto 850$/ounce within 1979,then inflation started to fall down which induced falling gold price which converged around 300-500 $/ounce till 2004 but within 2008 ,it reached to 950$/ounce through Katrina agreement and credit crunch .From January 2005 to January 2010,gold price again steadily stepped up to more than 1800$/ounce but during 2013 it again started to behave volatile with falling trend.
The future forecast of gold price is observed as upward trend reaching 3400$/ounce within 2016.
-Dr.Debesh Bhowmik
The steady gold price was observed in the gold standard at 35$/ounce till 1971.After the breakdown of Brettonwoods , the gold price steadily increased upto 850$/ounce within 1979,then inflation started to fall down which induced falling gold price which converged around 300-500 $/ounce till 2004 but within 2008 ,it reached to 950$/ounce through Katrina agreement and credit crunch .From January 2005 to January 2010,gold price again steadily stepped up to more than 1800$/ounce but during 2013 it again started to behave volatile with falling trend.
The future forecast of gold price is observed as upward trend reaching 3400$/ounce within 2016.
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