Monday, January 24, 2011
Tuesday, January 18, 2011
LBMA forecast 2011
The London Bullion Market Association will publish Forecast 2011 on its website in mid-January. In the meantime, here is summary of what the report says:
"A total of 24 contributors have given us their estimates for the high, low and average price for 2011 for gold, silver, platinum and palladium, based on the London fixings, with a brief commentary on the major influences and activity for each metal covered.
"In 2011, Forecast contributors predict rises for all precious metals for the second year in a row. Their average gold forecast is US$1,457, a 19.0% increase on the 2010 average price, similar to the forecast of $1,450 made by delegates at the 2010 LBMA Precious Metals Conference in Berlin last September. Analysts predict that the average silver price will be $29.88, a 48.0% rise on the 2010 average price.
The LBMA said 2010 was a very good year for its forecasters. Their average gold price prediction of $1,199, a 23.4% increase on the 2009 price, was just $26 lower than the actual average price of $1,225. All metals rose as predicted, although silver and palladium exceeded almost everyone’s expectations.
Tables summarising the results of Forecast 2011 are available here
"A total of 24 contributors have given us their estimates for the high, low and average price for 2011 for gold, silver, platinum and palladium, based on the London fixings, with a brief commentary on the major influences and activity for each metal covered.
"In 2011, Forecast contributors predict rises for all precious metals for the second year in a row. Their average gold forecast is US$1,457, a 19.0% increase on the 2010 average price, similar to the forecast of $1,450 made by delegates at the 2010 LBMA Precious Metals Conference in Berlin last September. Analysts predict that the average silver price will be $29.88, a 48.0% rise on the 2010 average price.
The LBMA said 2010 was a very good year for its forecasters. Their average gold price prediction of $1,199, a 23.4% increase on the 2009 price, was just $26 lower than the actual average price of $1,225. All metals rose as predicted, although silver and palladium exceeded almost everyone’s expectations.
Tables summarising the results of Forecast 2011 are available here
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