Gold Rally To Extend Into 2011, Fear Persists

LONDON - Gold prices are set to mark an eleventh year of gains in 2011 as investors seek refuge from an uncertain global economic outlook, with analysts revising up expectations sharply in a Reuters' survey released last week.

A poll of 55 analysts and traders showed expectations for gold prices in 2011 have risen by nearly 7 percent to a median $1,228 an ounce, from a forecast of $1,150 in a similar survey conducted in January.

For 2010, expectations for gold have risen by 4 percent to a median $1,197.00 an ounce from $1,150.50 in January, when market watchers were forecasting prices to rise this year before plateauing in 2011.

Editor's Comment
Micro-procurement maze demands urgent reform

Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...

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