GoldPriceForecast.com

Gold Continues Recent Rise; Analysts See 2012 Gains

GoldPriceForecast.com — Thu, 02 Feb 2012 19:19:45 +0000

Gold prices continued their ascent from December lows as the spot gold price rose to a two-month high of $1,760 an ounce in positive trading Thursday.

Separately, a Reuters survey of 45 analysts revealed expectations that gold prices would average $1,765 an ounce in 2012, though Reuters indicated that several major banks including UBS, Morgan Stanley, and Societe Generale are looking for prices to average $2,000 or above this year.

HSBC Ratchets down its 2012 Gold Forecast

GoldPriceForecast.com — Thu, 05 Jan 2012 19:08:32 +0000

In a research note sent to clients late Wednesday, HSBC reduced its 2012 average gold price forecast to $1,850 an ounce from $2,025 an ounce. HSBC precious metals analyst James Steel noted “likely global deflationary pressures due to contractions in the banking industry and deleveraging” as the primary cause for its pared back gold price estimates. Still, HSBC said it is bullish on gold in 2012 and maintains its positive view on the precious metal.

BNP Paribas chops Gold Price Forecast for 2012, 2013 but Retains Positive Price Outlook

GoldPriceForecast.com — Wed, 21 Dec 2011 20:31:41 +0000

In light of recent weakness in the price of gold, BNP Paribas has scaled back its gold price forecast for 2012 and 2013.

BNP’s new targets for gold prices are: $1,775 per ounce in 2012 and $2,150 per ounce in 2013 on an average price basis. Its previous gold price views for 2012 and 2013 were $2,025 and $2,280, respectively.

Despite the minor adjustment in price expectations, BNP Paribas remains constructive on future gold prices and reiterated its view that gold will see new highs in the next one-to-two years.

Gold Prices Tumble; Spot Gold Price Falls Below $1,600 an Ounce

GoldPriceForecast.com — Wed, 14 Dec 2011 16:30:00 +0000

Gold prices are in steep decline in today’s trading as commodities stage an across the board retreat in the face of a stronger dollar and ongoing Euro zone tumult. The price for gold reached a two month low in volatile trading as prices declined below $1,600 an ounce.

Gold Price Consolidation Continues as Debate About 2012 Price Direction Brews

GoldPriceForecast.com — Tue, 06 Dec 2011 19:20:32 +0000

Gold prices are trading around the $1,730 an ounce level in choppy trading amid continued economic uncertainty emanating from the Euro zone. Gold has been trying to find a base in recent months following a summer surge that pushed prices near the $2,000 an ounce level.

While many so-called “gold bugs” maintain their stance that gold prices are headed higher in 2012 and beyond, the question remains from what base any further rally would begin.

Commodities investor Jim Rogers assessed the current gold price environment in a recent interview with CNBC:

“Gold is overdue for a correction. I own gold and I’m not selling my gold. Gold has been up 11 years in a row, that’s extremely unusual for any asset. 11 years in a row, without a single down year, so somewhere along the line, gold is going to have a correction. It’s been correcting for three months now, and it wouldn’t surprise me if went on for a while. It’s normal, it would be good for the gold market. Anything that goes up 11 years in a row has to worry people.”

Meanwhile, Goldman Sachs recently upped its six-month forecast to $1,830 an ounce. In a mid-November research note, Goldman predicted that a low-interest rate environment would continue to underpin investment demand for gold.

Nomura Hikes 2012 Gold Price Forecast to $2,000 an Ounce

GoldPriceForecast.com — Thu, 10 Nov 2011 14:44:44 +0000

Brokerage Firm Nomura has raised its gold price forecast for the end of 2012 to $2,000 an ounce, pointing to the continued low interest-rate and easing monetary policies in Europe and the U.S. as the driving factors in the excpected strength in gold prices. Nomura’s previous 2012 gold price target had been $1,800/ounce.

UBS Cuts Near-Term Gold Price Target, Reiterates Positive Longer Term Gold View

GoldPriceForecast.com — Tue, 04 Oct 2011 18:59:54 +0000

Swiss Bank UBS has cut its three month forecast to $1,950 an ounce from $2,100, citing cooling short-term investment demand for gold. Longer term, however, UBS remains bullish on gold, pointing to positive market fundamentals following gold’s recent pullback from multi-year highs and strong underlying physical demand for the precious metal as “a very healthy foundation for gold to climb from.”

“Overbought” Gold Drops More Than $100 an Ounce; Margin Hikes Bring Price Back Below $1,800

GoldPriceForecast.com — Thu, 25 Aug 2011 17:57:05 +0000

Gold prices tanked on Wednesday as prices fell $104 an ounce to settle at $1,757.30 an ounce. The day’s trading marked the largest one-day decline in gold since March 2008. The slump came as both the CME and China hiked margin requirements for trading in the precious metal. While the unwinding of speculative buying pressure has knocked more than $150 an ounce off gold prices in recent days, the price of gold is still up more than 20% this year.

UBS Raises Three-Month Gold Target to $2,100, Sees Price “Consolidation Phase”

GoldPriceForecast.com — Thu, 25 Aug 2011 17:48:29 +0000

Investment bank UBS has raised its three-month gold price target to $2,100 an ounce from $1,850. In a research note released Tuesday, UBS raised its price forecast for both gold and silver, while noting the potential for a short-term retracement in gold prices following their recent steep rise. “Given the speed of the recent rally, the possibility of a correction is rising as investors look to bank profits,” the bank noted.

Gold Prices to Average $1,850 an Ounce in 2012: TD Securities

GoldPriceForecast.com — Wed, 17 Aug 2011 15:24:12 +0000

Citing weak economic outlook for the U.S. and Europe, TD Securities this week announced it is looking for gold prices to average $1,850 an ounce in 2012. TD further based its bullish gold forecast on gold’s role as a safe haven asset and protection against inflation caused by anticipated monetary easing.