Imports of gold on rise

ISTANBUL (A.A) - January 4, 2012 - The amount of gold imported by the members of the Istanbul Gold Exchange (IAB) in 2011 was up 88 percent when compared to the previous year and was recorded as 79.07 tonnes. Speaking to the AA, IAB's Deputy Chairperson Osman Sarac said Wednesday that a total of 227.33 tonnes of gold were traded at the IAB in 2011. We expect the amount of gold to be traded at the IAB in 2012 as 200 tonnes. We also expect the imports of gold in 2012 to reach 80 tonnes, Sarac noted. The price of gold is likely to go up in 2012. Gold may be traded at around 2,000 USD an ounce within this year, Sarac also said.