[miningmx.com] – THE price of gold would average $1,170 per ounce in 2015 representing a decline of 7.8% year-on-year, said BDLive citing the annual GFMS Gold Survey published today.
The report said that in a rising interest rate environment, there was debate in the market as to whether gold could fall to post global financial crisis levels in late 2008 of $600 to $700/oz.
However, this was considered unlikely by GFMS Gold Survey which expected gold to increase in value to an average of $1,250/oz in 2016. The gold price averaged $1,266/oz last year, down from $1,411/oz the year before.
The price averaged $1,668.98/oz in 2012.
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