Gold to hit 2,000/oz in 2012: PwC

Extraction mining companies estimate that the price of Gold will rise to $2,000 per ounce in 2012, said a report by PricewaterhouseCoopers (PwC).

Currently, spot gold is traded at around $1.660 per ounce. The price hiked last year by about 10%, but mining companies’ share value of the S & P / TSX Global Gold Index fell by 9%.

In addition, the World Bank (WB) predicts an increase of 1.5 percent of Gross Domestic Product (GDP) for Romania this year, after a WB report released in June 2011 estimated an expansion of 3.7 percent of Romanian GDP. The downgrade is due to the vulnerabilities of the Romanian economy as a result of the debt crisis in the euro area.

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Posted by admin on Feb 1 2012. Filed under Gold predictions. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry