Majority of the investors who took part in the 2010 Resource Investor Survey felt that gold prices will reach $1500 by end of 2010, according to Dig Media Inc.
Dig Media recently conducted its Resources Investing News 2010 Survey to gauge the interests of its readers and gain insight into investors' perception of the markets.
The survey results showed that nearly 69 percent of respondents said they believe the price of gold will reach $1500 before the end of 2010. This bullish sentiment is most likely supported by the increasing flight-to-safety climate currently taking shape in Europe and North America as investors contemplate the likelihood of a slow economic recovery and the possibility of a double-dip recession.
Our audience is very focused on the resource investing market and as such has some interesting insights into the current state of the market, said Nick Smith, Publisher at Dig Media. Our reporters have taken these results and are digging into the background to provide readers with some interesting insights on the market overall and specifically in gold, uranium, copper and oil and gas.
It's not surprising that such a high percentage of respondents would answer yes when many analysts this past month have been calling for $1500 gold this year or next, including commodities analysts at Citibank, Macquarie Securities, UBS AG and Fairfax IS plc, Dig Media said.
Quoting Wayne Atweel, Managing Director at Casimir Capital and former Morgan Stanley Managing Director, the Gold Investing News brought out by Dig Media said that the longer term outlook for gold prices is rather bullish with the precious metal at $1500 to $2000 an ounce within the next one to three years, his short-term outlook goes against the grain, pegging gold as trading in a band between $1100 and $1300 an ounce through the end of the year.