, IncGold prices started out 2009 at $874 per ounce, and ended the year at $1096. Gold reached a yearly low of $810 per ounce in early January, and on December 2 the gold spot price reached an all-time peak of $1226. After averaging $972 per ounce for 2009, the gold spot price currently resides at $1053, and most mainstream market analysts have issued their 2010 gold price predictions.
Some financial institutions obviously believe that the economy is improving and that the US dollar is strengthening, because their gold price predictions call for lower gold spot prices in 2010. The investment company Natixis is the foremost among those calling for gold to be bearish this year, because analysts from this company believe that gold will average $850 per ounce. Barclay’s Capital believes that will remain flat this year, as evidenced by their $1140 prediction. Macquarie Investment Bank also believes that gold prices will remain dormant in 2010, because gold’s rise due to the falling dollar could be offset by investors looking to take profits.
Other financial entities believe that the financial stress of our current recession will increase demand for safe-haven assets like gold, and the dollar’s slide against other major currencies could escalate the yellow metal substantially this year. The Certified Gold Exchange currently has a gold price prediction of $1592, and analysts at Merrill Lynch believe that the gold spot price could reach $1500 by the end of 2010. Kitco analysts have called for the gold spot price to reach $1375 before the ball drops on 2011, and feel free to view the complete list of 2010 gold price predictions or contact us directly for live, discounted pricing on the most popular physical gold investments.
Ronald Stevens
Senior Staff Writer - GoldPrice.net
