With 2011 over and 2012 just starting, you may wonder what the top commodity in terms of market performance in 2011 was. Many of you can probably make an educated guess. It was gold of course, even though it went on a bit of a roller coaster ride in the later part of the year.
The average 2011 trading value per ounce for gold, according to the Sydney Morning Herald as quoted in this report was $1,589.88. The top price per ounce was reached on September 6th, 2011 with a value of $1,921.15.
The above mentioned report states that the Bureau of Resources and Energy Economics of Australia predicts in their latest quarterly report that gold will continue to go up in value in 2012, with an expected gain of about 17% to $1,850 per ounce for the precious metal.
Other financial forecasters named in the report, such as Citigroup and Barclays Capital, have predicted a bigger increase in gold value in 2012, varying all the way up to $2,500 per ounce on the high side.
Reasons named for the predicted 2012 gold increase include the fact that several major international currencies have lost value, spurring demand for gold as an investment. There are low interest rates here in the United States and some European nations as well, adding to demand.
Investors, banks and even non-investors have flocked to gold as a safe haven when the value of the dollar (or Euro) has taken a fall. If the current trend continues, 2012 will be the 12th year in a row that gold has posted significant increases in value. So as far as investing goes, gold seems to be the sure thing, if there is such a thing when it comes to investing.
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