Expert Analysis Forecast Golds Prices 2012

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Expert Analysis Forecast Golds Prices 2012
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Merrill Lynch Raises Its 2011 and 2012 Forecast of Gold Prices

Merrill Lynch raised its 2011 gold price forecast by 5.3% to $1,498 an ounce from $1,423. It also increased its 2012 gold price forecast by more than 3% to $1550 from $1,500. The main fundamentals reasons behind a more bullish view on gold are:

Many problems in the global economy that have still not been resolved,

Debt and fiscal issues in developed countries are unlikely to find a short-term fix....READ MORE

Bloomberg Survey Forecasts $1,938 Gold in 2012

According to a survey of the four most accurate precious metal forecasters tracked by Bloomberg over the past two years, gold prices will rise to $1,713 this year and $1,938 in 2012.

Option traders are also betting big on gold rally to continue. The number one spot is captured by the speculators betting on a $2,000 by November, followed by $1,800 for the same month, data shows as of July 29....READ MORE

Wells Fargo Forecasts a Gold Market Crash, Warns Clients

ells Fargo said on Wednesday that gold market is a “bubble that is poised to burst”. The bank did not provide specific details but mentioned that “There could be substantial risk to gold once the fear that the world is coming to an end subsides… We are worried about the downward risk.”

“We have seen the economic damage” of past bubbles and “feel compelled to ring the warning bells,”.....READ MORE

CEO of Gold Mining Companies Forecast Upbeat Gold Prices

Newmont Mining CEO Richard O'Brien expects gold prices to easily hit $2,300 an ounce by next year. AngloGold Ashanti CEO Mark Cutifani forecasts $2,200. Main reason is gold production slowly dwindles and economic uncertainty increases and therefore prices will rise. Debt problems in Greece, U.S. deficit concerns and political upheaval in the Middle East are all boosting gold's price.

The bullish outlook on gold prices has been contradicted recently by a surge of interest in U.S. government debt and the dollar, and a slight dip in gold prices, reports Reuters....READ MORE