Many people around the world want to know the answer to the question, where are gold prices going?
I invested many hours browsing the internet searching for answers to this question to save you time and money because time is money.
Have another question? Drop me a line. I only answer questions regarding money. Please don’t ask me where your lost dog is or why your boss fired you.
Here are my findings when I searched for the Top 10 gold price predictions for 2013:
1) $1,487 Morgan Stanley
The 15th-leading investment services company in the world downgraded its forecast 16% to $1,487, according to the Wall Street Journal.
Peter Richardson said speculation of selling by European Central Banks and nervousness over the possibility that the United States of America Federal Reserve will end its QE earlier than December 2013 are also top contributing factors.
2) $1,530 David Morgan
David Morgan is the publisher of The Morgan Report and creator of silver-investor.com which has been featured on CNBC and Fox Business.
3) $1,550 Goldman Sachs
The second-leading investment services company in the world downgraded its six months forecast to $1,600 from $1,805 and its twelve months forecast to $1,550 from $1,800, according to the Wall Street Journal.
The recent sell-off was “likely excessive,” and it has “exposed a quickly waning conviction in holding gold positions, especially ETFs.”
4) $1,637 Deutsche Bank
The bank lowered its forecast last month 11.8% to $1,637, according to Fox.
“Given our forex strategist’s expectations for continued strength in the U.S. dollar and our U.S. economist’s forecasts for an acceleration in gross domestic product growth going forward, we expect that gold will struggle to appreciate meaningfully against the U.S. dollar.” – Daniel Brebner
5) $1,700 HSBC
The bank lowered its forecast 3.5% from $1,760 to $1,700, according to Reuters.
“Later in 2013, we expect monetary easing, escalating currency wars, and geopolitical tensions to support gold prices up to $1,800 an ounce.”
“Increased inflationary expectations should buoy gold.”
“Any price drop below $1,600 per ounce may stimulate jewelry, coin and small bar retail demand in price-sensitive economies.”
“Further ETF or Comex liquidations could put additional pressure on gold prices.”
6) $1,880 Aubie Baltin
Check out this article: 5 reasons Gold Will Set an All-time Record in 2013. I’m not sure I agree, but the title’s pretty bombastic…
7) $2,200-$3,000 Jason Hamlin
Pent-Up Potential For Precious Metals in 2013 is an interview by The Gold Report where he discussed his prediction.
8) $10,000 Societe Generale
“With some rare exceptions … analysts don’t like to stand out from the crowd. It is dangerous and career-challenging. In that vein, we repeat our key forecasts of the S&P Composite to bottom around 450, accompanied by sub-1% US 10-year yields and gold above $10,000.” – Albert Edwards
Read more in Doomsday? SocGen Predicts S&P to 450, Gold at $10,000 by Sam Mamudi.
9) Franklin Templeton
The tenth-leading investment services company in the United States of America does not offer a specific numeric forecast. However, they believe the price of gold will go up. You can read their recent financial analysis here.
Keep in mind only eight investment services companies in the world make more money than them.
10) Hebba Investments
Hebba Investments is one of the Opinion Leaders in the Gold & Precious Metals category at Seeking Alpha and although he does not offer a specific numeric forecast, he believes the price of gold will go up. You can read his recent financial analysis here.
My personal opinion? Gold likely bottomed at $1,200 recently, but don’t expect spectacular gains through the end of the year. Precious metals need a big catalyst to move higher aggressively.