a bit of fun, pog for 2014, page-66

Dillinja,

Here's something you might find interesting. From my diary.

In 2012 15 major banks forecast an average end of 2012 gold price of $1947.
Gold ended 2012 at about $1560, the banks overestimated by 20%.

In 2013 9 major banks forecast an average end of 2013 gold price of $1877, so far they have overestimated by 36%.

Here are 3 major bank forecasts I have so far for end of 2014.

GS $1050
Citi $1250
B of A $1350

Almost certain to be overestimated.