Gold prices are likely to touch Rs 22,000 per 10 gms by year end,as the cash-rich financial institutions like mutual funds may divert investments to bullion in view of uncertainty in the stock market,industrial body Assocham said. "Major players in the capital market including mutual funds are holding huge cash balances,waiting to invest in anticipation of corrections in the equity market. Until corrections resume,these funds would go on making a beeline to commodities,more specifically bullion,which has taken gold and silver to all time high," the chamber said. Another reason for rising prices is the Euro-zone economy and the US,which are not providing conducive investment options,making way for investment in precious metal. "This is likely to continue in the foreseeable time,raising hopes for a further hike in bullion prices," it said.
