Bloomberg reported that gold is expected to reach $1,900 an ounce this year, propped up by central bank stimulus, according to GFMS.
As quoted in the market report:
While investment fell 1.2 percent last year in tonnage, it set a record of about $87 billion as prices averaged the most ever, and will jump 20 percent in the first half from a year earlier, the London-based researcher said today in a report. Central banks added the most gold to reserves in 48 years in 2012 and will buy another 280 metric tons in the first half, countering a drop in jewelry purchases and higher recycling.
Wednesday January 16, 2013, 9:46am PST