Best of the gold market analysis: Our own, the ones we find interesting, from gurus like Jim Rogers or Marc Faber, and the ones we follow their work closely, like Wall St. Cheat Sheet. Missing an important piece here? Let us know and we'll include it.
According to a survey of the four most accurate precious metal forecasters tracked by Bloomberg over the past two years, gold prices will rise to $1,713 this year and $1,938 in 2012.
Option traders are also betting big on gold rally to continue. The number one spot is captured by the speculators betting on a $2,000 by November, followed by $1,800 for the same month, data shows as of July 29.
Seems like our price forecast of $1,750 for 2011 is rather conservative for some gold market players!
The most accurate forecasters tracked by Bloomberg were Jochen Hitzfeld of UniCredit SpA in Munich; Jason Schenker of Prestige Economics LLC in Austin, Texas; Anne-Laure Tremblay of BNP Paribas SA in London; and Thorsten Proettel of Landesbank Baden-Wuerttemberg in Stuttgart, Germany.
