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Oil To Cost $85, Gold $600: Forecast

Oil price is to jump up to $85 a barrel, gold to $600

Investment advisers Fat Prophets forecastthe price of crude oil for the next two years. The price will be around $85 a barrel. They also predicted that the price for gold will rise up to $600 an ounce this year on its way to passing the all-time record of $850.

Analyst Gavin Wendt, recently recruited by the fast-growing Sydney-based player from brokers Intersuisse, has in his first report set the scene for a big 2006 on the commodities front.

Meanwhile, London-based Barclays Capital Research's 2006 metals outlook predicts the metals sector will see a further aggregate price rise of 15 per cent in the first half of the year as demand continues to grow at a time when little new production is coming on stream.