The forecast of average gold and silver prices has increased

The forecast of average gold and silver prices has increased

According to a survey conducted by Reuters twice a year by leading analysts of the precious metals market, analysts have raised their forecast for gold and silver. Analysts surveyed were unanimous that gold and silver prices will continue to rise due to the debt crisis in developed countries. The growing demand for gold and silver from developing countries and their central banks, as well as the weak monetary policy of the US Federal Reserve, will also contribute to rising prices.

More than half of analysts surveyed by Reuters expect the average price of gold at the end of 2011 to be $ 1,500 an ounce or more. Although in January 2011, analysts were less optimistic about gold prices. Only one in five analysts surveyed then believed that the average price of gold could reach $ 1,500. Since then, it has become increasingly clear that economic problems will affect a growing number of countries, leading to an increase in demand for gold and silver. The problem of sovereign debt in the eurozone and the United States, as well as rising inflation in Asia, are the main drivers of rising precious metal prices.

Analysts now predict an average price of $ 1,510 per ounce of gold. In January, a survey showed analysts expected an average gold price of $ 1,453 an ounce. Analysts also expect the average price of gold in 2012 to be $ 1,575.

For silver, analysts were more cautious in their forecasts due to the high volatility of silver. They raised the average silver price forecast to $ 36.60 an ounce, compared to the previous forecast of $ 30. In 2012, the average price of silver is expected to be $ 36.25, although the January survey announced an average price of $ 28 an ounce.

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