Even as gold price continue to give up gain amid a stronger U.S. dollar, the metal is expected to see new record high in the second half of the year, according to a Thompson Reuters GFMS annual survey out Thursday.
A push on towards $2,000 is definitely on the cards before the year is out, although a clear breach of the mark is arguably a more likely event for the first half of next year, global head of metals analytics Philip klapwikp in an interview.
Europe's downbeat debt are likely to boost safe-haven appeal as long as the situation intensifies, as rising fears about the Spain -the region's fourth largest economy- will spur risk aversion and instead fuel investment for the metal on the long-run.
The leading precious-metal consultancy however thinks that more efforts to contain the debt crisis in the euro region and fewer bets for a third round of quantitative easing in the U.S. could send gold price down further, probably below $1,550 in the next couple of months.
Gold futures rose 0.6 percent to $1670.8 an ounce as of 10:12 a.m. in New York Trading on Thursday, the highest price since past Last Tuesday, after printing a fresh daily high of $1673.48 from $1658.75.