Zurich Gold Price Predictions—All Cautiously Optimistic
Source: Mineweb, Lawrence Williams (4/16/10)
Experts are cautiously optimistic that the price will rise in 2010.
Huge increases in scrap supply last year, coupled with a fall in jewelry consumption, was countered by a rise in investment demand. The big question is whether any of these elements will be repeated in 2010.
With three months’ figures to go on, some trends are already beginning to show. Jewelry demand is beginning to rise, aided by an increase in Chinese demand. Scrap sales are continuing at a high level, while investment demand, although still strong, may be beginning to flatten out. Last year mine production rose for the first time in three years, and it’s expected to increase in 2010.
Experts expect an average price of $1170 this year. The cautiously bullish tone echoed other speakers at the meeting , and that of the mainstream gold investment and analysis community.