Execs Think Gold Price Will Hit Record in 2012

A recent survey of gold mining executives by PricewaterhouseCoopers found that a majority think the price of gold will continue to rise in 2012.

According to the accounting firm’s 2012 Gold Price Report, some 80 percent of gold mining executives queried expect the price of gold to increase throughout the year. Only 6 percent foresaw a decline.

A majority expect the price to peak at $2,000 an ounce, which would be a record. At press time, it was trading at $1,664 an ounce, though at one point last year it hit $1,900.

The highest prediction was $2,500, the survey said; the lowest, $1,350.

The survey questioned 40 executives, whose companies represent 26.5 million ounces of gold mined in 2011.