PNG members predict metals to be up in 2012
Year-end predictions by experts with decades of experience in buying and selling gold, silver and other bullion coins with the public almost unanimously point toward price increases. However, some of their opinions significantly vary on how high the increases will go in the next three months and a year from now
How will gold, silver and other precious metals perform in 2012?
Year-end predictions by experts with decades of experience in buying and selling gold, silver and other bullion coins with the public almost unanimously point toward price increases. However, some of their opinions significantly vary on how high the increases will go in the next three months and a year from now, according to the Professional Numismatists Guild, a non-profit organization composed of the country’s top rare coin and bullion coin dealers that conducted an opinion poll of its members.
PNG officials report their members’ predictions on where gold will close at the end of the first quarter in 2012 ranged from a low of $1,475 per ounce to a high of $2,155, with a mean average of $1,759.57. Their estimates for gold at the end of 2012 varied from $1,450 up to $2,575 with the average $1,976.22.
“Thirty PNG member-dealers responded to the opinion poll that was conducted between Dec. 16 to 23, 2011,” said Jeffrey Bernberg, PNG president.
“These are professionals with an average of over 35 years each of frontline experience buying and selling American Eagles, Canadian Maple Leaves, South African Krugerrands and other precious metals bullion and rare coins with the public,” said Bernberg.
PNG members were asked where they think U.S. spot prices will close on Friday, March 30, 2012, and also on Monday, Dec. 31, 2012. Here are the low and high estimates and mean averages of the dealers’ opinions on silver, gold, platinum and palladium by the end of the first and fourth quarters of 2012:
Silver, end of first quarter 2012:
Lowest prediction: $24.35
Highest prediction: $57.50
Mean average (30 respondents): $34.04
Silver, end of fourth quarter 2012:
Lowest prediction: $23
Highest prediction: $130.
Mean average (28 respondents): $48.73
Gold, end of first quarter 2012:
Lowest prediction: $1,475
Highest prediction: $2,155
Mean average (30 respondents): $1,759.57
Gold, end of fourth quarter 2012:
Lowest prediction: $1,450
Highest prediction: $2,575
Mean average (28 respondents): $1,976.22
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