Oscar Race Heats Up: Who Will Go for the Gold?

Jan. 7, 2011 — -- It's Hollywood's equivalent of peering into a crystal ball.

As Oscar nominations inch closer (Jan. 25 at 8:30 a.m. ET, 5:30 a.m. PT, for those counting), newly announced contenders for other film industry honors offer clues as to who the Academy might deem worthy.

This week, the Producers Guild and the Writers Guild -- two of the three best known Hollywood guilds -- announced the nominees for their respective annual awards. The Producers Guild's picks for best picture: "127 Hours," "Black Swan," "Inception," "The King's Speech," "The Social Network," "The Kids Are Alright," "The Town," "True Grit" and "Toy Story 3."

The Writers Guild, which recognizes screenplay excellence, chose similar nominees: "Black Swan," "The Fighter," "Inception," "The Kids Are Alright" and "Please Give" for best original screenplay; "127 Hours," "I Love You Phillip Morris," "The Social Network," "The Town" and "True Grit" for best adapted screenplay.

Go to Oscar.com for Oscar coverage before, during and after the awards.

Unlike the Golden Globes -- which were widely criticized for nominating films that were poorly received by critics ("The Tourist," "Burlesque") and snubbing those that won rave reviews ("True Grit") -- the picks of the Producers Guild, the Writers Guild and the Directors Guild (contenders for its awards will be announced next week) could offer a clearer picture of the upcoming Academy Awards nominees.

Below, ABCNews.com takes a closer look at the folks and films likely to dominate Oscar nominations day:

Best Actress