British analysts forecasts gold price at $900 per ounce in 2009
Azerbaijan, Baku, Feb. 26 / Trend , corr. A.Badalova / According to the forecasts by British macroeconomic research consultancy Capital Economics, the average price of gold in 2009 will be $900 per ounce.
While reduction trend is observed in the oil prices, gold rises in price due to the fears regarding inflationary consequences of its quantitative reduction, the report of British analysts says.
According to the forecasts by Capital Economics, in the first and second quarter of the current year will be observed the highest price at $1050 per ounce of yellow metal. In 2010 the price of gold will descend to $800 per ounce.
Since the beginning of the week, the price of gold on COMEX - part of New York commodity exchange - fell by 3.6 percent. The cost of April futures for gold on COMEX on Feb. 25 dropped $3.3 to $966.2 per troy ounce.