expert gold, silver pgm forecasts all bullish - LBMA 2011
7:05 PM
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LONDON -
The experts have spoken! This year's gold price high will be $1632, silver $38.36, platinum $2015 and palladium $993.35 - or so the experts who have been prepared to set out their forecasts for all to see in this year's London Bullion Market Association price forecasting competition(Forecast 2011) predict on average. Readers will also be aware that Mineweb runs a similar exercise for gold - for which there is still time to enter (see Mineweb gold price contestants mostly remain comfortably bullish for 2011) and frequently come up with more accurate predictions than the experts, which I suppose shows what a lottery predicting the gold price is - even if you are considered to be an expert in the field and have access to all the best forecasting tools! )Of course a number of Mineweb entrants also are prepared to go out much more on a limb - both on the bullish and bearish sides - than the expert forecasters.
In 2011, LBMA Forecast contributors predict rises for all precious metals for the second year in a row. Their price forecast for the average gold price in 2011 is US$1457, a 19.0% increase on the 2010 average price. Analysts predict that the average silver price will be $29.88, a 48.0% rise on the 2010 average price.
The average 2011 Platinum price is forecast to rise 12.6% from the average 2010 price, to $1813 and forecasters suggest that palladium shows no sign of slowing down with an average 2011 price prediction of $814.65, a 54.8% increase on last
year's bumper average price.......more
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