For investors in precious metals, especially gold, returns on their investment may be looking quite good, according to Goldman Sachs. Bloomberg reported this morning that Goldman expects investors to get returns of 18 percent on precious metals over the next year. And a separate Bloomberg report outlined how China is pushing for more gold investment, soon to overtake India as the No. 1 bullion market.
Don’t tell that to the Asian gold markets just yet, however.
The biggest mover on precious metals markets on June 8, 2012, was Japanese gold bullion, dropping 3.1 percent to settle at JPY 3,992 ($50) per gram. Chinese gold bullion fell 3.1 percent to CNY 322.80 ($50.72) per gram. Indian gold bullion ended the day at INR 29,252 ($532) per 10 grams, after the 2.6 percent drop last Friday. The price of US gold bullion saw essentially no change for the fifth day in a row, remaining around $1,543 per ounce.