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Diamond News Broadcast: Precious Metals Outlook for 2012

Analysts Predict Stronger Prices for Gold, Silver, Platinum

Dec 28, 2011 8:30 PM   By Rapaport News
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While gold prices rose about 15 percent year on year from December 28, 2010 to early this morning --before losing ground in afternoon trading--  silver and platinum were down from one year ago. But looking ahead to 2012, based upon a number of analysts' projections and two surveys -- one from mining executives and another from coin dealers, the next 12 months should be a strong period for gold, silver and platinum prices.

BNP Paribas expects volatile price corrections for gold in part due to  the euro-zone debt crisis and U.S. instability, nonetheless, the average price for gold this year should be about $1,775 per ounce. BNP increases the average to $2,150 per ounce in year 2013.   For silver: BNP expects an average price of $35.75 per ounce in 2012 and $49.75  per ounce in 2013. Platinum will improve too, according to BNP,  to an average of $1,610 per ounce in 2012 and $2,130 in 2013.

Goldman Sachs predicts gold will average about  $1,810 per ounce in 2012. Barclay’s said that gold will remain a "structural pillar of support" for investors as economically-unattractive interest rates and higher inflation plague major economies. Barclay's sees gold rising to an average of $2,000 per ounce. UBS is the most bullish of the bunch, predicting that gold will rise to an average $2,050 per ounce.

Gold mining executives told PricewaterhouseCoopers that price   increases will push average gold close to $2,000 per ounce in 2012, with a wide range of trading for the metal throughout the year. Executives foresee a gold bottom near $1,350 and a peak way up at $2,500. 

The Professional Numismatists Guild (PNG) asked coin dealers  for quarterly price predictions on gold, silver, and platinum in 2012. Dealers foresee very wide price swings in the coming year,  but on average,  they predict gold to end the year higher and just shy of $2,000 per ounce. Dealers'  view on silver places an average just below $49 per ounce and they expect a full recovery for platinum with an average of about $1,818 per ounce.


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Tags: 2012, barclay's, executives, gold, goldman, platinum, png dealers, prices, Rapaport News, silver
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