Gold Could Hit $1,100/oz. : GFMS

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Widening gap between production and jewellery demand could lead to a strong rally in gold prices this year, according to the latest forecast by Gold Fields Mineral Services (GFMS).

Widening gap between production and jewellery demand could lead to a strong rally in gold prices this year, according to the latest forecast by Gold Fields Mineral Services (GFMS).

The London-based consultancy projected that gold prices may hit the psychological barrier of $1,100 per ounce this year. Higher prices would largely be driven by existing issues including dollar weakness.

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