2010-08-31 Bloomberg survey gold price forecasts 2011

Gold may gain 21% and trade at $1,500 next year according to the median in a Bloomberg survey of 29 analysts, traders and investors

Bloomberg surveyed 29 analysts about expected gold price highs in 2011. The median of the survey was $1,500. Here are selected individual calls for 2011 highs:

  • Eugen Weinberg of Commerzbank: $1,400
  • Dan Brebner of Deutsche Bank: $1,550
  • Thorsten Proettel of Landesbank Baden-Würtenberg: $1,350
  • Anne-Laure Tremblay of BNP Paribas: $1,370
  • Jochen Hitzfeld of UniCredit: $1,350

Bloomberg also compiled 17 forecasts for the average 2011 gold price, the median estimate being $1,247.50, up 6.2% from a June 2010 compilation.

Read our trading idea associated with this forecast: Bloomberg Gold survey: Take a Chance?

Original article: August 31, 2010, Bloomberg

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