Gold prices to rise on China growth
Mine production fell 4.4 percent last year, according to GFMS.
Citigroup said on May 19 the gold price this year will surpass the 16-year high reached in December. Fat Prophets, a privately owned financial-advisory company in Sydney, said yesterday gold may rise to $850 an ounce in as little as three years. By contrast, Barclays Capital forecast on June 16 the metal will drop to $400 or lower by year-end, the first annual decline since 2000.