Gold to Rise to $1800/oz by Year End: GFMS

Mining Weekly reported that according to the most recent GFMS Gold survey, gold is expected to rise to $1 800/oz by the end of the year, pushed up by U.S. economic development and stability in the global markets.

As quoted in the market report:

Gold is likely to remain very sensitive to US monetary policy and, even though we’ve had some hawkish noise from some within the Fed, it is difficult to see a material unwinding of the quantitative easing programme until well into 2014, which should bolster the gold price in 2013,” he commented.

To view the whole Mining Weekly report, click here.