Commodity Price Forecasts
Even though commodities have rallied significantly in recent months, quarters and years, commodity analysts as a whole still think they're too pricey. Below we highlight the median price targets for Oil, Natural Gas, Gold and Silver for the next four quarters and 2009, 2010 and 2011. As shown, each chart is downward sloping from the current price. The median analyst has an Oil price target of $88 for the end of 2008 and $80 by year-end 2011. Natural Gas is expected to decline from $9.89 to $8.85 by year end and $8.00 by year-end 2011. Gold and Silver are expected to fall, but much less than Oil and Natural Gas. The median year-end 2008 price target is $900 for Gold and $16 for Silver.
This forecast could work if the u.s. dollar goes up about 33% over the next few years.
Posted by: jay | April 08, 2008 at 09:14 PM
I want to see the chart that shows what these geniuses were predicting 3 years ago for today’s prices.
Posted by: Mark | April 09, 2008 at 02:40 PM
"commodity analysts as a whole still think they're too pricey."
Really? Well, I was waiting for some sort of signal from the analyst community and now I have it. I am loading up and will take advantage of the big run up in the last two years of the 9 year bull market in commodities (that takes place every 30 years).
Gold and Silver will resume the uptrend in late August taking Silver to $29.85 by January.
Posted by: Larry Nusbaum | April 12, 2008 at 11:53 AM