Capital Economics: Price of gold will exceed $ 2,000 per troy ounce

Business Materials 25 July 2011 11:02 (UTC +04:00)

Azerbaijan, Baku, July 25 / Trend A.Badalova /

The price of gold will grow in the next two years and reach the level of $ 2,500 per troy ounce in 2013, the British Capital Economics said.

Analysts predict the price of gold at $ 2,000 per troy ounce in 2012.
"But, it will not be a surprise if the price of gold reached this level earlier and will rise much higher in the future," the analysts say.
Analysts forecast an average price of price at $ 1,800 per troy ounce in 2011.

Earlier last week, the price of gold exceeded a record level -$ 1,600 an ounce. The debt problems in the eurozone and the U.S. contribute to the higher prices.

But, a recent agreement reached among the leaders of the eurozone to provide financial assistance to Greece, led to a slight reduction in the price. Following the trading on the COMEX, (division of the New York Mercantile Exchange) the August gold futures fell by $9.9 to $1,587 per troy ounce.

During the first quarter of 2011, a rise in the price of gold was 1.3 percent. The figure was 30 percent in 2010.