Gold to hit record high in 2012

Precious metals analysts expect gold prices to rise for a 12th year in a row and to reach a record high in 2012, but are less optimistic for silver and platinum, according to a survey by the London Bullion Market Association.
Renewed euro weakness was a central theme of the past week, and despite the corresponding dollar strength, gold has displayed impressive resilience. A decent German bund auction failed to allay worries about upcoming periphery debt sales. A point that may have been driven home when the French saw their borrowing costs rise this week amid persistent rumors of an impending downgrade. Spain and Italy will attempt to sell bonds next week and global investors will be eying demand closely. They'll also be watching to see if the ECB steps in to cover and absence of "real" demand; primarily as an indication of the central banks relentless creep toward full-on quantitative measures..........
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