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As of January 11, 2010 the current gold spot is $1152.30 and many firms have already come out with their annual gold price forecast and like in years past, the projections are all over the place. After rising to a record high of $1226 late last year the gold price has taken several turns before resting at its current level. Many gold price forecasters agree that 2010 could be a break out year for gold; however most have come up with very conservative estimates in their 2010 gold price forecast. See list below:
Certified Gold Exchange - $1592
Deutsche Bank - $1150
Goldman Sachs - $1350
American Precious Metals Advisors - $1500
Bank of Nova Scotia - $1400
Barclay’s Capital - $1140
Cannacord Adams – $1300
Commerzbank - $1100
Financial Gold Price Forecast Center - $1179
Kitco - $1375
Macqarie Investment Bank - $1150
Morgan Stanley - $1300
Natixis - $850
The Bullion Desk - $1239
2009 Low – $810
2009 Peak - $1226
2009 Average - $972
Last year’s winning gold forecast was submitted by the Certified Gold Exchange with a projected price of $1049, or $47 dollars under the year-end price of $1197. See last year’s results: http://goldprice.net/blog/?p=30
Gold prices have been rising for the last nine years with annual returns of between 5 and 30 percent. While many experts believe we are at the start of a long term inflationary cycle, many don’t seem sure the Fed will raise rates soon. This is causing estimations to seem extremely low giving all that is happening to fuel the gold spot price. To have a complete 2010 gold price forecast report sent to you, please use the information request below.
