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Gold industry sees price rising to near $5,000 an ounce over 12 months
The price of gold is expected to hit $4,980 a troy ounce over the next 12 months, up some 27% from current levels, delegates to the London Bullion Market Association's (LBMA) annual gathering in Kyoto predicted on Tuesday. On track for its biggest yearly rise since 1979, gold's 52% growth so far this year has seen it break through $3,000 per troy ounce in March and then $4,000 in October - both seen as psychological resistance levels by market players. Results of the LBMA poll were gathered in the organisation's annual poll and shown to delegates at the conference. Political tensions, U.S. tariff uncertainty and, ... (full story)
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