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LBMA precious metal price prediction survey for 2019

Topics [ gold bullion prices ]

Reflecting the views of 30 professional analysts, the London Bullion Market Exchange’s forecast survey for the price of precious metals in 2019 is out!

The annual report asks participants to predict the high, low and average price of gold and other investment metals for the forthcoming 12 months.

The average of all forecasts for gold suggest a modest gain, up 1.8% to $1,311.71. Analysts’ estimates vary considerably across a $325 trading range, with a high of $1,475 and a low of $1,150.

On silver, participants foresee an average price per ounce of $16.28 in 2019. With a high of $20 and a low of $12.75, the $7.25 spread is also seen as significant.

The lack of consensus about what may happen to prices reflects divergent outlooks on what’s in store for the global economy, the LBMA suggests.

“Whilst markets have factored in some of the downside risks of Brexit and US-China trade wars, other factors such the level of US real interest rates, strength/weakness of the dollar, the likely impact of geopolitical factors and the pace of global economic growth continues to provide some uncertainty,” it says.

Commentaries from each contributor in support of their price predictions including platinum and palladium make fascinating reading in the 2019 Precious Metals Forecast Survey [pdf], where you can also discover who made the most accurate forecasts this time last year.

Prices in US dollars.

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