After warnings last month from the Australian Olympic Committee (APC) President John Coates that Australia could finish as low as eighth in London, the end of year results have improved the prospect of a more satisfying placing.

Australia are now predicted to earn 15 golds in the virtual medals table for next year, with four nations – Britain, France, Japan and Germany – forecast to win 14 golds.

Fifteen gold medals would be Australia's third best Olympic result, behind the 17 they won in 2004 and the 16 at the 2000 Sydney Games.

But their overall medal prediction of 34 – including 12 silvers and seven bronzes – is only the eighth best predicted tally, and would be their worst since the 27 won at the 1992 Barcelona Games.

"The gold medal result is very pleasing but we still have ground to make up on the overall medal tally," said Coates.

"Thirty four medals and eighth on the benchmark is our worst result since we started keeping these records."

Coates said it was also worrying that Australia has only won medals in nine Olympic disciplines in 2011, compared to the 20 sports in which a total of 58 medals were won at the 2000 Games.

China, the United States and Russia head the virtual table with a predicted haul of 45, 38 and 28 respectively.

China is tipped to win 104 medals in all, ahead of the US with 86 and Russia with 77.

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