Gold Analysts Not Expecting Inflation This Year

 |  Includes: GLD, IAU
by: Bespoke Investment Group

Below is a chart of gold since 2008 along with the year-end 2009 price targets of 17 gold analysts (from Bloomberg). With gold creeping higher over the last few weeks to its current price of $958/ounce, many investors seem to be positioning themselves for a spike in inflation down the road. But gold analysts collectively have an average year-end price target of $918, which means they don't expect the inflation trade to occur until at least 2010.

Will the analysts be right or will they have to play catch up as gold heads higher?

click to enlarge

Click to enlarge