AB: Gold to shine this year and next as dollar ails
Gold prices are set for solid gains this year and next, with the $1,000 mark in sight, as potential inflationary concerns and a softer dollar outlook prompt analysts to ramp up forecasts, a Reuters survey showed.
The poll of 48 analysts and traders showed that expectations for gold prices this year have risen 7.8 percent to a median $930 from $862.50 in a similar survey carried out in January, when fears over the economic outlook were at their height.
Expectations for prices of the more industrial precious metals - platinum, palladium and silver - have risen still further, with hopes for an economic recovery helping allay fears demand would continue to tumble.
"We think gold will get $1,000 in its sights again (by year-end)," said RBS Global Banking & Markets anlayst Stephen Briggs. "There is clearly a risk of inflation building up and there are clear risks of the dollar weakening sharply."
