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.
