Monday, October 8, 2012

Average forecast for gold is $1,900/oz by 4Q13

It seems that DB's projection for gold at $1,900/oz by the end of October (discussed here) is aggressive. Nevertheless the latest 10 forecasts expect this level to be reached in about a year. DB of course is the most aggressive on that list forecasting $2,300 by Q3 of next year.

Source: Bloomberg

Bloomberg Briefs: - Gold prices will climb this week on the back of another round of quantitative easing by the U.S. Federal Reserve and expectations of additional easing measures by global central banks, according to 63 percent of analysts surveyed by Bloomberg. Bullion will increase to $1,900 an ounce by the end of 2013, according to the median of the 10 most recent forecasts, compared with an overall consensus of $1,813 an ounce, highlighting rising bullish sentiment in the precious metal.

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