By Jon Nadler
Dec 31 2008 9:22AM
The trading range will likely remain as wide as this year's $350 while volatility will remain an integral part of daily, weekly, and monthly swings. Prices might touch $630 on the low side and $980 on the high side - however, factor in some imponderables (severe deflation and/or catastrophic geopolitical developments) and one could augment either end of the scale by $100. Barring the latter, the average gold price will likely register near $810 per ounce, following its $871 average for the current year.
Silver is projected to trade in a wide range as well, almost as broad as that seen in 2008. Lows could come in in the mid- $6 range, and highs near $14 per ounce, with an average closer to $10.50 for 2009. This year's cumulative average was $15 per ounce.