By
Reuters
Published
Dec 17, 2010
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Precious metals price forecasts

By
Reuters
Published
Dec 17, 2010

Dec 17 - The price of gold, which hit a record high this month of $1,430.95 an ounce, is expected to remain well supported next year as investors favour the metal as a safe store of value amid instability in the financial markets.



Silver prices are also expected to extend their recent rally to 30-year highs on gold's coat-tails, though analysts warn the metal is more prone to volatility. Platinum and palladium are also expected to benefit from recovering economic growth.

Gold was bid at just above $1,375 an ounce at midmorning on Friday, while silver was near $29 an ounce, platinum was just above $1,700 an ounce and palladium was near $740 an ounce.

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