Wednesday, January 17, 2007

Gold’s prospects for 2007 (Financial Times, UK)

Gold is the precious metal that analysts are most positive about for this year, according to a poll conducted by Reuters.

Analysts expect bullion to average $656.78 a troy ounce in 2007, a rise of 8.6 per cent over last year.

Only two out of 42 analysts surveyed by Reuters said the average price of gold for this year would be lower than 2006’s average of $604.42. The most bullish forecast for 2007 came from D’Jardins Securities at $750. However, Ross Norman of is forecasting gold to average $780 in the final quarter of next year and says a spike to a record $850 is possible.

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