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London Gold Price Forecasts Top $1450

Tuesday, 1/11/2011 11:56

LATEST FORECASTS for the Gold Price in 2011 from London's leading institutional experts average more than $1450 per ounce – a 19% increase on last year's annual price.

Twenty-four analysts, traders and economists have entered this year's LBMA Forecast competition at the London Bullion Market Association – trade body of the world's professional wholesale gold and Silver Bar market.

Eight of the entrants forecast a 2011 average Gold Price of $1550 per ounce, with previous winner Ross Norman targeting a peak 2011 price of $1850 per ounce.

2010's most accurate Gold Price forecaster was Philip Aubertin of Swiss-based bullion bank UBS, correctly picking last year's average down to the Dollar. This year his colleague Edel Tully, now metals strategist at the bank, forecasts a peak price of $1700 in 2011, with a Gold Price low of $1250.

All told, Gold Price forecasts by the 24 gold-market professionals put the 2011 average at $1457 per ounce, with the forecast peak averaging some $1632 and the low averaging $1268.

Last year's forecast average came within 3% of the actual result at $1225 per ounce.

Buying Gold today? Get the safest gold at the lowest prices using the award-winning, LBMA-member, mining-industry backed world No.1 online, BullionVault...

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Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News, RSS links are shown there.

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