2013 Gold Price Predictions
It’s getting to that time of year when everybody and their brother are making bold predictions on the year to come. Rather than add to the cacophony of voices out there, we figured we’d gather up a number of opinions and put them into one neat little package for you.
Here are a variety of views on where the gold price will go in 2013.
NOTE: The vast majority of these predictions were made before the recent sell-off in gold. At the time of publishing, spot gold is at a 3.5 month low of $1642/oz
Over at Y! Finance, Jeff Kilburg estimates that gold will hit $2000, and expects it to come at the end of 2013.
Golman Sachs prediction for Gold is $1825 in 2013, but they also see that number falling to around $1800 by the end of the year, marking an end to gold’s 11-year run.
Dillon Gage Metals Executive VP Roy Friedman says “I expect gold to break above $2,000 in 2013. In fact, a spike to $2,200 would not surprise me.”
Amine Bouchentouf, partner at Parador Capital LLC, sees global fiscal uncertainty pushing gold to $2500.
UK-based capital economics has priced its predictions for gold at $2200 for 2013, but much like Goldman Sachs prediction, they see 2013 as the peak of Gold’s run.
Fat Prophets, the market research house, sees gold coming in at the $2300-$2500 range in the year ahead.
Gary Lamphier of the Edmonton Journal provides a number of predictions, including John Ing of Maison Placements who sees gold nearing $2200, and Raymond Key of Deutsche Bank who expects gold to clear $2000.
Jan Harvey writes an interesting piece outlining why all the optimism for gold should perhaps be tempered, including this quote from Credit Suisse analyst Tobias Merath: “The environment for gold is good, but it isn’t improving further by the day, so some slowdown in the uptrend in gold should be expected.”
Charles Lewis Sizemore is “modestly bullish” on gold, but sees many other asset classes outperforming it in 2013.
So there you have it. This is just a drop in the bucket of predictions I’m sure, but what you sense is that the overwhelming sentiment is that while the momentum that has carried gold through this historic run may be slowing, it still has at least one final push forward in the year to come.
Where do you stand? Do you see gold powering through 2013 and beyond?