Bullion Research Desk of Commodity Online: "Gold price to hover around $1500-$1600 range in 2011. Gold price will go up in 2011, driven by the fluctuations in US dollar and other currencies, dwindling productions, increasing mining problems and rising demand for jewellery and investment for the yellow metal. Gold price is definitely going to cross the $1500 mark per ounce in 2011 and it will remain in the range of $1500-$1600."
Global commodities guru Jim Rogers: "Gold price would eventually rise above $2,000 an ounce. Gold will be $2,000 certainly in the decade, it'll probably be much higher than $2,000 in the decade but maybe even sooner I don't know. But to me it seems pretty clear that it'll go to at least $2,000. If you adjust the old high back in 1980 for inflation, gold should be over $2,000 now."
Saxo Bank: "Gold price will be at $1800 per ounce in 2011 if the US Dollar strengthens, sparking fresh currency wars across the Pacific. Pressure piles on China and as investors flee to metals in search of some stability, gold shoots up to $1800 an ounce."
Henderson: "Gold price will rise to $1600 in 2011."
PricewaterhouseCoopers: A new survey of 44 investors and gold mining executives conducted by PricewaterhouseCoopers's Canadian Mining Group forecasts a peak of $1500 per ounce for 2011.
BNP Paribas: Has forecast an average of $1,500 in 2011.
Goldman Sachs: It has set a 12-month target of $1690 per ounce.
Capital Economist: "As inflation fears mount, the price of the precious metal will be pushed to £1,600 in 2011 and reach $2,000 by the end of 2012, it has been forecast, as investors clamour to buy safe haven assets."
ABN AMRO/ VM Group: It has raised its previous average 2011 gold forecast by $35 to $1,459, up from $1,424 in November.
Source: http://www.commodityonline.com/news/Gold-price-predictions-for-2011-34867-3-1.html
Gold Prices Expected to Increase by 2011
December 28, 2010 By james
Based on the 2010 Global Gold Price Survey Report by PwC, mining firms worldwide expect gold prices to increase even with the current high gold prices.
The report indicated that most gold firms anticipate their projected levels of production to increase in 2011. Almost 75 percent gold mining firms anticipate an increase in gold prices in 2011 even as the current price level is lower than the 1980 levels. Gold companies foresee gold prices reaching $3,000 even as forty percent think gold prices will top $1,500 based on the November 2010 survey.
According to John Gravelle of PwC, with the increased demand for gold, gold firms with marginal gold stocks may increase production to meet the possible demand for gold in 2011.
Seventy percent of gold companies aim to search for new ventures or enhance the ones on hand or resupply gold stocks in anticipation of the increase in gold prices. Gravelle added that there is a link between increasing numbers of deals and increasing gold prices as more deals have been made during the year.
Problems in some currencies may have caused the current increase in gold prices as some countries have now utilized gold to replace these currencies. Countries with gold resources have used these resources to lessen their currency value while countries without resources are also trying to reduce their currency value to help their export industry.
A number of gold firms view gold price hedging unfavorably even as 26 percent of firms lock in gold prices through forward sales contracts despite a possible increase in gold price in 2011. Around 64 percent are obliged due to financial requirements.
Gold price hedging was limited due to the increased gold prices as shown by the elimination of hedge books by a number of gold firms in 2010.
Source: http://www.planetinsane.com/gold-prices-expected-to-increase-by-2011/264696/
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