gold price prognosis 2012

gold price prognosis 2012 ; The Federal Reserve's pledge this week to keep U.S. interest rates at rock-bottom levels for a number of years and its hints of fresh monetary easing are set to fuel further gains in gold, keeping the opportunity cost of holding bullion low and the dollar in check.

It takes out the major risk factor for most people investing in gold, which is of real interest rates going higher, That would be the major tipping point for gold, and it just seems to be getting pushed out and out

Several big banks, including UBS, Morgan Stanley and Societe Generale, forecast the average price would break above the $2,000 level, which would be well above last September's record $1,920.30. Their predictions highlight the extreme nature of a rally that started in 2001 from an average level of $270.

The survey of 45 analysts carried out by Reuters in January predicted an average spot gold price of $1,765 an ounce in 2012, 14 percent higher than last year's average of $1,544. This was itself 26 percent above 2010's $1,228 an ounce. read gold price trends forecast 2012

If you look at gold's performance up to mid-year 2011, it was almost a straight line higher, Central banks' commitments to low interest rates are firmly underpinning prices, as is a move in official sector activity in the gold market from selling to buying. Central banks bought more bullion last year than at any time since 1964.

Concerns over sovereign risk in the euro zone, which have even extended to speculation the bloc may break up, sparked heavy gold buying in Europe and elsewhere in 2011 as investors diversified out of European assets. But the support offered by the crisis has faltered in recent months.
In 2013, gold is expected to extend its run higher, but the rate of appreciation will again be slower. The average forecast gold price for next year is $1,835 an ounce, just 4 percent above the forecast for this year. For the latest updates on the stock market, visit Stock Market Today

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