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Gold, oil prices to rise this year
by hlk Wed 08 Feb 2012, 08:06
KUALA LUMPUR: Gold and oil prices are set to rise this year on positive
sentiment for both commodities amid global economic slowdown,said
Standard Chartered Bank.
Its consumer banking group wealth
management chief investment strategist,Steve Brice, said the gold prices
were expected to touch an average of US1,975 per ounce in the fourth
quarter driven by four factors.
"They are high debt level in the
West; negative real interest rate; high demand from China and India as
well as central banks; and, limited supply for the precious metal," he
said in a media briefing here today.
He said continuous
uncertainty in global economy had boosted interest in gold as an hedging
alternative against riskier investment.
He said the oil price
was expected to rise to US100 per barrel in the second half of this year
driven by the geopolitical risks in the Middle East and strong demand
from emerging market, especially China.
"We didn't expect any
significant decline in oil prices this year" he said. On equities, he
said, the bank was putting a 'neutral' call on Malaysia's equity market.
Brice said the country's equity market had posted a strong performance last year on a relative basis.
However, he said, the equity prices had gone up since then and were more expensive now.
"We are not bearish on Malaysian equity market but we think that some regional markets are better pick," he said. -- BERNAMA
sentiment for both commodities amid global economic slowdown,said
Standard Chartered Bank.
Its consumer banking group wealth
management chief investment strategist,Steve Brice, said the gold prices
were expected to touch an average of US1,975 per ounce in the fourth
quarter driven by four factors.
"They are high debt level in the
West; negative real interest rate; high demand from China and India as
well as central banks; and, limited supply for the precious metal," he
said in a media briefing here today.
He said continuous
uncertainty in global economy had boosted interest in gold as an hedging
alternative against riskier investment.
He said the oil price
was expected to rise to US100 per barrel in the second half of this year
driven by the geopolitical risks in the Middle East and strong demand
from emerging market, especially China.
"We didn't expect any
significant decline in oil prices this year" he said. On equities, he
said, the bank was putting a 'neutral' call on Malaysia's equity market.
Brice said the country's equity market had posted a strong performance last year on a relative basis.
However, he said, the equity prices had gone up since then and were more expensive now.
"We are not bearish on Malaysian equity market but we think that some regional markets are better pick," he said. -- BERNAMA
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