Banks on 2012 Gold Price?

By: Ian Campbell | Thu, Dec 22, 2011
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So, do you want to know what some big banks think the price of physical gold will be in 2012? Here are three views that all were expressed in yesterday's early hours: (1) Barclays Capital - U.S.$2,000 average, (2) Goldman Sachs - U.S.$1,810 average, and (3) UBS - U.S.$2,050 average.

As you know if you read these e-mails, I believe that any forecast of the physical gold price is a forecast on the world macro-economic and political condition at a given point in time. Accordingly, as I reflect on the current gold price and these three 2012 price estimates - which for all intents and purposes are broadly in the same 'ballpark' - I have reached the following views with respect to them:

The foregoing is an example, for what it is worth, of how I generally think through the things I read and listen to. You may not agree with the way I look at things, but nonetheless it may give you some 'food for thought' with respect to your own 'thought process' as you do your own reading and listening.

The article yesterday that set out the three Bank forecasts referenced in this commentary is titled '2012 Gold price to be 28% more than current levels'. The article was published on the CommodityOnline Blog - reading time 2 minutes.



Ian Campbell

Author: Ian Campbell

Ian R. Campbell, FCA, FCBV
Economic Straight Talk

Through the Economic Straight Talk Newsletter Ian R. Campbell shares his perspective on the world economy, the financial markets, and natural resources. A recognized business valuation authority, he founded Toronto based Campbell Valuation Partners (1976), Stock Research Portal (2007) a source of resource companies market data and analytic tools, and Economic Straight Talk (2012). The CICBV* annually funds business valuation research in his name**. Contact him at
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