mines prices markets

Gold and silver prices are gaining in the final trading session of 2011. Gold is rebounding after falling to near six-month lows on Thursday. Gold is head for a gain of 10% this year. However, prices have fallen sharply in the fourth quarter. Since hitting a record high of $1,920.30 an ounce in September, gold has fallen nearly 19%.

At last check, spot gold was trading 1.5% higher at $1,568.50 an ounce. Ole Hansen, Saxo Bank senior manager told Reuters that we need to see the hot money from speculators and the real money from the money managers coming back to the market. Hansen said that speculators and money managers have been absent throughout December. Gold futures for delivery in February are currently tLinkrading 1.9% higher at $1,570 an ounce. Morgan Stanley believes gold will average $1,511 per ounce.

The bank has raised its average target price for gold this year, and the next five years. For the current year,

Gold target price for 2012, 2013, 2014, 2015, 2016

•$1,624 in 2012

•$1,550 in 2013

•$1,450 in 2014

•$1,300 in 2015

•$1,150 in 2016