Gold may climb to a record $1,300 an ounce this year as investment demand shifts from the euro and the dollar, said Bruce Ikemizu at Standard Bank.
The US and European currencies may lose their appeal as developed economies underperform emerging markets such as China, said Ikemizu, the head of commodity trading and managing director at the bank’s Tokyo branch. As there is no immediate replacement for the dollar and euro, demand for gold will grow, he said in an interview on Thursday.
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