On the Line with Gold Price Forecast : Year-end $1226 Predicted
Source: Mineweb, Lawrence Williams (4/15/10)
Chief Economist of Dundee Wealth Economics of Toronto predicts an average price of $1170 and a year-end figure of $1226.
Murenbeeld's predictions are always backed up with some extensive analysis. He looks not only at the bull points, but also points out some risks. This year's bullish points include reflation, a declining dollar, excessive global FX reserves, and the Central Bank's improving attitudes towards gold. Bearish possibilities include policy exit strategies in the U.S., Asia, and Europe; a strong dollar/weak euro perception; an absence of inflation; and a pop in the Chinese growth bubble.
A couple of years ago he was just about spot on with his weighted average, and last year he was slightly on the conservative side - but got the overall trend right. This year he is forecasting an average price of $1170 and a year-end figure of $1226.