The African Business Journal: Gold prices to increase by 2012

Gold prices to increase by 2012
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World News on 08 September, 2010 08:56:00
 
TABJ Sep 8 - Researchers say by 2012 gold prices could go up to $1,350 per
ounce.
ANZ Commodity Research analysts forecasted this rising prices and said an
explanation for this could be because of the fall in primary gold mine supply
that has to be made up by rising gold prices.
"We expect the supply response to be greatest from struggling economies in
Western and Eastern Europe," said research analysts to press.
"The upside surprise may come from Central Bank buying. The bulk of emerging
economies are overweight US dollars and underweight gold. China is a good
example, which could consume the global annual supply of gold mine production
and still only hold 5% in gold to total foreign reserves," analysts added.