Gold price forecast 2010
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The price of gold has run the gamut so far in 2010, and where it will go next is anyone’s guess. Here is a list of gold price forecasts and estimates for 2010: *Goldman Sachs- for 2010, $1,350 per ounce. For 2011: $1,425 per ounce. This estimate is given due to 2010′s lower interest rates, which will prop up the price of gold. However, inflation is low and the reviving economy may drive the price down. *Canaccord Adams Gold Estimation- near term outlook: $1,300 per ounce. This estimate was given because they feel that global stimulus packages are driving down the value of local currency, and because gold is becoming a more popular way to invest. *Natixis Price Per Ounce- $950 per ounce (as of November 25, 2009). This estimate was given because they felt that developing countries would prefer to make their investments in gold, as opposed to currency. However, if the economy rebounds, supply and demand may drive down the need for gold. *Bank of Nova Scotia Gold Analysis- One of the widest ranges in 2010 gold prices. On October 22, 2009, they put out a range from $850-$1,400 per ounce for 2010. They interpreted the spike in gold prices as an early warning sign of a failing stock market and other economic issues. For 2010, there are many predictions for the price of gold and other precious metals. Some investors will avoid gold altogether, while others will play the futures market. Regardless of the method chosen, investors will undoubtedly be keeping an eye on the changing 2010 gold price. | |