Gold Prices Could Hit $1,800, Poll Says

"Gold at current price levels is a compelling trade, not a long term investment," the report said. Goldman also warns gold producers to "begin scaled up hedging of forward production," despite the fact that most major producers like AngloGold Ashanti(AU), Barrick Gold(ABX) and Kinross Gold(KGC) raced to de-hedge over the past two years. Morgan Stanley(MS) has a 2011 gold price target of $1,512 an ounce while JPMorgan Chase(JPM) will now accept gold as collateral.

Mark Bristow, chief executive officer of Randgold Resources(GOLD), is betting on a gold price target of $1,500.

Chuck Jeannes, CEO of Goldcorp(GG), said reaching $1,500 an ounce is "easily achievable." Jeannes said it's important to consider highs adjusted for inflation, which could push the price as high as $2,300.

"Gold will ultimately go above $2,000 and I think it's going to go in steps so I could see $1,600 this year," said Sean Boyd, CEO of Agnico-Eagle(AEM).

Mark Cutifani, CEO of AngloGold Ashanti(AU), expects gold to trade between $1,300 and $1,500. Aaron Regent, CEO of Barrick Gold(ABX) also said he believes the "forward curve would suggest a gold price in the $1,500 range."

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--Written by Alix Steel in New York.

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