According to estimates compiled by Bloomberg, futures in New York may rise 12% to $1,950 per ounce by the end of the first quarter, 2012. Gold has risen 22% in 2011, which beat the S&P GSCI Commodity Index that gained 2.2% this year, reports Debarati Roy for FP Investing.
This week, investors are sending gold prices up after Greek Prime Minister George Papandreou’s announcement he will put the bailout to a vote. On Thursday, there were reports Papandreou was planning to step down.
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Tisha Guerrero contributed to this article.