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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Nostradameus who wrote (46728)	8/9/2007 1:49:01 PM
From: Proud Deplorable	of 78428

Commodities forecasts to 2009 27 July 2007 metalsplace.com Some commodity price forecasters are revising price forecasts upwards; especially forecasts for bulk commodities, coal and iron ore. The pace of output growth in China and India has led to an Access Economics panel revising their forecasts over the next few years. At the start of the year the 11 analysts were forecasting China's economic growth at 8.3 per cent this year, but the consensus is now for the Chinese economy to grow this year by 10.4 per cent. But, apart from the strong coal and iron ore markets, by late 2009, most mineral prices are expected to drop from their current levels. Nickel prices are forecast to fall by 56 per cent by late 2009. Copper prices are forecast to be down 38 per cent and zinc down by 44 per cent by late 2009, while price falls of more than 20 per cent are forecast for alumina, aluminium and uranium. But while base metal prices are set to pull back in the next few years, forecasters are tipping ongoing strength in iron ore and coal prices. Iron ore prices are expected to be up a further 14 per cent by the end of 2009 while coal prices are expected to be still 5 per cent up on current levels by the end of 2009. The consensus among analysts surveyed is that the price of oil will peak in September this year, and will have retreated back to $US57.75 a barrel by December 2009. The Australian dollar is forecast to be back down at US76.7c by the end of 2009. The gold price is forecast to be around $US646 an ounce come the end of 2009, after peaking at a quarterly average of around $US690 in 2008.

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