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Gold’s average price likely $2,025 in 2012 – HSBC forecast

(MarketWatch) — Gold prices will likely average $2,025 a troy ounce in 2012 as investors are expected to continue to rush to safe-haven assets amid continuing concerns over the health of the euro-zone economy, Paul Bloxham, HSBC’s chief economist (Australia and New Zealand), said Monday.

However, prices will likely ease over the next five years to $1,500/oz levels as fundamentals take over from global financial concerns, he said on the sidelines of HSBC’s Global Natural Resources Conference.

Spot gold is trading at $1,629.72/oz, down $27.48 from its previous close.

Posted by on October 1, 2011. Filed under Precious metals. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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