Major bullion bank HSBC Holdings Plc cut its 2013 average gold price after factoring in a 2012 year-end price of $1,675 an ounce.
The gold market is likely to trend higher in 2013 based in part on more positive underlying supply/demand fundamentals and Indian consumption is likely to recover based in historical consumption patterns.
Macro fund liquidation and uncertainty over the impact of the US "fiscal cliff" led traditional gold investors to shift out of bullion and move to the "sidelines" in late 2012,
HSBC says India's gold consumption likely to recover
Where is the diesel price HIKE that India needs?
NBA: James leads Heat past Thunder in finals rematch
Manufacturing growth jumps to 6-month high: HSBC
India, beware of China's Himalayan moves!