This year, gold executives are more optimistic about the price of gold than they were last year. Eighty-eight percent of executives believe we will see a rise in the price of gold, with zero expecting to see a decline in the price of gold. Executives of some of the largest gold companies expect to see the price of gold climb beyond $2,000 in 2013. A survey completed in November by Bloomberg showed, on average, analysts too are optimistic about gold — forecasting prices to remain just slightly under $2,000 at $1,925 per ounce in Q4 2013.
Gold’s price run, on an annual basis, has lasted for more than a decade, and judging by the long-term gold price companies will be using in their mine planning, they believe strong gold prices will be here for awhile longer. The average long-term price of gold used by gold miners has increased 6% from last year and 29% from 2 years ago to $1,400 per ounce.