Average Cost of Gold 2011

The average cost of gold in 2011 is $1,457 per ounce, a 19% increase over the previous year. It is expected that the improved dollar may depress gold prices initially as it happened on the second Friday of 2011, recording the highest weekly loss since July last. However, the prices are likely to become firm as the year progresses. Market predictions suggest that it may hover in the range of $1,270 and $1,300 per ounce till the end of March and likely to witness a surge from the second quarter of the year. Bullion market experts opine that the yellow metal’s price may touch $1,632 during the year.