Rally in gold price to end

Mumbai: While gold prices have rallied higher to become the best performing asset class this year, GFMS Gold survey 2016 by Thomson Reuters states that the rally would fade once the current market turbulence starts to ease as physical demand in key Asian markets is already weak.

The metal, which had hit $1270 per ounce in March, is expected to fall below $1,200 per ounce in the coming months. However, the survey also highlighted that the mine production is expected to drop in 2016, the first annual decline since 2008.