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- Author of the entry: Mennica Skarbowa
- Date of entry:
The London Bullion Market Association conducted a survey on the projected prices of precious metals in 2018. Thirty-four analysts took part in the survey. As expected, each of them had a slightly different opinion. The source of the discrepancies was the different assessment of the significance of several factors, such as interest rates in the US, the geopolitical situation, and the condition of the global economy. After summarizing the opinions collected, a single, averaged forecast for gold, silver, platinum, and palladium was created.
*Source: LBMA 2018 Precious Metals Forecast Survey,
www: http://www.lbma.org.uk/downloads/Forecast-2018.pdfGold
As every year, gold divided analysts into two camps. The highest forecast for the price peak was $1,510. The lowest forecast for the price trough was $1,120. The difference between these values is as much as $390, which may indicate that we are in for some very interesting months on the gold market. In the case of the average price for the year, predictions ranged from $1,215 to $1,381. The average value was $1,318, which is almost 5% more than last year's average price.
Silver
The survey shows that silver is the metal that will perform best this year. According to the highest forecast, the average price will be $20. According to the lowest forecast, it will be $16. The overall average was $17.81, which is a 4 percent increase compared to the price in mid-February and a 4.5 percent increase compared to the previous year.
Platinum
The forecasts for platinum have turned out to be very favorable. The average price for the year is expected to be $1,000, which is 3.1% higher than the price in mid-February and over 5% higher than last year. The range of predictions was quite wide, from $862 to $1,140. Most respondents opted for values in the middle. The highest forecast for the price peak was $1,250. The lowest forecast for the price trough was $732.
Palladium
The price of palladium rose by as much as 16.7% in 2017. This is the best result among all precious metals. Unfortunately, according to analysts, 2018 will not be as successful. The forecasts collected indicate that the average price for the year will be $1,080, which is 1.5% less than in mid-February. Thus, palladium will perform much worse than other metals. However, an increase compared to the previous year can still be expected. According to forecasts, it will amount to as much as 24%.
