Consensus Gold Estimates

Last Thursday we highlighted consensus analyst estimates for the price of crude oil. Below we provide the consensus price target for gold through 2012. These target prices are based on the median of 21 gold analysts surveyed by Bloomberg.

As shown, analysts currently aren't expecting a big rally or a big decline in gold over the next few years. By mid-year 2009, analysts are expecting gold to be at $825/ounce, which is less than $10 from its current price of $816. At the end of 2011, analysts expect gold to be down to $790, and then down to $762 by the end of 2012.

click to enlarge

Comments

[Alxsteele:]

Based on what?

2008 Dec 15 06:56 AM

[moh:]

I believe they are dreaming. Gold ounce is expected by citi-group to be up to 1200 $ on next March and above 2000 $ by the end of 2009

2008 Dec 15 07:19 AM

[Burticus:]

Thanks for the advice. I will short Bloomberg and buy all of these analysts' gold.

2008 Dec 15 09:05 AM

[Mark123:]

Excellent...... The analysts are always wrong!!!

2008 Dec 15 10:32 AM

[GMiki1:]

If it's from Bespoke, I know it's going to be wrong--and it is! This would be funny if we weren't in a terrifying situation.

2008 Dec 15 11:45 AM

[User 267182:]

Great day to be putting out this consensus. Spot gold is already trading near the Sep 09 target. Analysts also said financials were BUYS in August....

2008 Dec 15 11:46 AM

[User 30121:]

Pure garbage. And if not? Prove your assertions NOW, please!

2008 Dec 15 03:37 PM

[Long Silver...:]

I guess we should sell our PM's and buy into the Madoff fund.

2008 Dec 15 07:18 PM