Investors See Gold Rebounding Toward $1,900 by Year-End
Although the gold sector has slumped in recent months,
investors at yesterday’s Bloomberg Link Precious Metals Conference remain bullish on the yellow metal’s prospects.
The average year-end 2012 estimate for gold in a survey of 14 respondents at the conference came in at $1,897 per ounce.
If the price of gold were to rebound to such a level,
it would mark the yellow metal’s 12th consecutive annual advance and bring it to within 1.4% of its $1,923 all-time high – reached on September 6, 2011.