We published the following comment on Wednesday: "A Reuters poll of traders and analysts has found expectations were that the gold price may reach $730 this year!"  We added that it would seem more likely that gold would reach $730 this week.  In the event it took about 24 hours to reach the $730 mark!  I think this demonstrates that Mineweb was more accurate in its call than the Reuters poll of professionals - even though both statements have been proved technically correct.

However, if one goes to traders, professional analysts and bankers for your precious metals price predictions - in many cases predictions upon which huge sums of money are made and lost - they are invariably ultra-conservative, both on the way up and the way down.  No-one is prepared to stick his or her neck out and sometimes take what would seem to be the real commonsense viewpoint. 

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