The gold industry is cautiously optimistic about the coming year after a lacklustre 2012, according to the consensus of bankers, traders and investors gathered in Hong Kong at the industry’s largest annual meeting.
More than 700 delegates attending the London Bullion Market Association conference this week predicted the price of gold would rise to $1,849 a troy ounce by the time of the next year’s conference in September 2013, according to Bloomberg.
While that implies a 7 per cent rise from current prices of $1,729, the prediction – probably the single most comprehensive consensus of the gold industry’s most powerful traders and investors – is markedly less bullish than a year ago.
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