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Regardless of the current downturn in gold fashion jewelry demand as well as tapering of reserve bank acquiring, the price of gold is not expected to see significant reversals whenever quickly, stated Pavel Grachev, CEO of Polyus, the third biggest gold miner on the planet, based in Russia.
" We still think the variables that generated the gold rally so far remain to linger and we do not anticipate major variants in the gold price going forward, at least not for the following twelve month," Grachev told Kitco Information.
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Gold price outlook from third largest miner in the world, Polyus
Despite the recent slowdown in gold jewelry demand and tapering of central bank buying, the price of gold is not expected to see major changes in direction any time soon, said Pavel Grachev, CEO of Polyus, the third largest gold miner in the world, based in Russia.
“We still believe the factors that generated the gold rally so far continue to persist and we do not expect major variations in the gold price going forward, at least not for the next 12 months,” Grachev told Kitco News.
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