OREANDA-NEWS. OJSC Polyus Gold, Russia’s leading gold producer, and Moscow State Institute of International Relations (MGIMO) of the Ministry of Foreign Affairs of Russia today announced the agreement to carry out a research on long-term forecasting of gold prices.

According to the agreement, MGIMO will study gold price forecasts for the period 1970 – 2005 made by various institutions and compare them with actual gold prices for the respective periods; the most accurate forecasts will be selected and the methods applied will be analyzed. On the basis of the research results, MGIMO will suggest further steps to develop long term forecasting methodologies.

Polyus Gold CEO Evgueni Ivanov said he is very pleased about cooperation with MGIMO, one of the most respected think tanks and universities in Russia. According to Mr. Ivanov, “the research will be prepared in course of implementation of Polyus Gold’s long-term strategic development plan approved by the Board, so the highly qualified analysis of gold prices would be demanded as a key element of decision making process”.