Analysts have boosted gold price forecasts for this year and next due to persistent concerns over the euro zone debt crisis, and fresh worries over the U.S. recovery and debt.
Reuters’ biannual poll of precious metals price forecasts found that just over half of the 52 respondents who returned gold views expect prices to average $1,500 an ounce or more this year, against just over one in five who responded to a similar poll conducted in January.
“There are still strong fundamental reasons why gold remains attractive to investors,” said Ong Yi Ling, and investment analyst at Phillip Futures in Singapore.
Full Story: Gold seen rising for next 2 years