COMMODITIES
Kiatnakin keen on silver for new asset-based fund
- Published: 27 Nov 2012 at 00.00
- Newspaper section: Business
Kiatnakin Fund Management is bullish on commodities and will potentially set up a mutual fund to invest in silver.
Gold prices this year were quite volatile with a range of US$1,540-1,795 per ounce. Gold opened this year around $1,600 per ounce and bottomed out at $1,540 per ounce around May or June on worries about the QE3 scheme. It then rebounded and is returning 6-7% for the year, compared to 20% in 2011.
Supakorn Soontornkit, managing director of Kiatnakin Fund Management, projected gold might hit $1,920 per ounce next year, up by around $200 from the current spot price of $1,750 per ounce.
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