Gold advanced, poised for a 12th annual gain

Gold, down 6.2 percent since September and set for the biggest quarterly drop since 2004, may climb to $2,000 next year, the median of 49 estimates in a Bloomberg survey published on Dec. 18 showed. Morgan Stanley said Dec. 6 that bullion will be among next year’s best-performing commodities. Prices may peak in 2013 as the U.S. recovers, Goldman Sachs Group Inc. predicts.

Silver for immediate delivery rose as much as 0.8 percent to $30.25 an ounce and was at $30.13. Prices have gained 8.2 percent this year. Holdings in silver-backed ETPs stood at a record 18,916.92 tons on Dec. 28.

Spot platinum advanced 0.3 percent to $1,526.50 an ounce, taking this year’s gain to 9 percent. Palladium gained 0.5 percent to $701 an ounce, up 7 percent this year.

http://www.bloomberg.com/news/2012-12-31/gold-poised-for-12th-annual-climb-as-u-s-budget-deadline-nears.html