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
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