NEW DELHI: Gold prices are likely to increase for the third consecutive year and would touch a record high of USD 2,000 an ounce in 2012, said a survey.
According to the annual London Bullion Market Association (LBMA) survey which covered 26 precious metal analysts, the average forecast for the precious metal for 2012 is USD 1,766 per ounce.
The average forecast for gold this year (USD 1,766 per ounce), a 12.34 per cent rise from average price in 2011 and a 10.2 per cent increase compared to the price in the first week of January, 2012.
Out of the 26 contributors to the survey, 19 expect gold to cross the USD 2,000 per ounce level in 2012.
Gold soared to an all time high in 2011 on strong demand as precious metals are considered as a 'safe-haven investment' in times of economic turmoil and rising inflation.
No comments:
Post a Comment