According to a new survey, some experts believe that the gold prices will hit new record high in 2012.

The survey by the London Bullion Market Association included 26 contributors, out of which 3 said that they expect the gold prices to rise to record levels in the year while 19 others said that they expect the gold prices to reach above the level of above $2,000.

The survey stays that the analysts expect the gold prices to average $1,766.00 an ounce this year. The average for 2011 was calculated to be $1,572.00. The prices of the shiny metal had risen to a record $1,920.30 an ounce in September. The gold prices have risen 10 percent in 2011 making it the eleventh consecutive year for a rise in price.

Ruth Crowell, LBMA commercial director said that most analyst expect the prices of all the four metals to rise. They expect prices of gold to rise 12.3 percent, palladium prices to rise moderately by 0.3 percent, on the other hand they believe that the prices of silver will fall 3.2 percent and that of platinum will decline by -5.6 percent.

She added, "However, if we compare the average 2012 forecasts with actual average prices in 2011, we can see that analysts are less bullish about the prospects for precious metals during the next 12 months."

LMBA has said that it will release full details about of its survey and comments from participants on its website this month.