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Gold Analysts At LBMA See 25percent Return To $1,532/oz In 12 months

(by Reuters from BOSTON, LBMA)

The price of gold is expected to rise to $1,532 an ounce by October next year, delegates to the London Bullion Market Association’s (LBMA) annual gathering predicted on Tuesday.

A poll of delegates at the LBMA conference in Boston also predicted higher prices in a year’s time for silver, platinum and palladium.

Spot gold has had a difficult few months, falling from a high of $1,366.07 in January to as low as $1,159.96 in August as the dollar strengthened and the U.S. Federal Reserve pushed ahead with interest rate rises.

But it has since clawed back to around $1,225 an ounce as volatility on global stock markets revived interest in bullion as a safe place to store assets.

The poll also showed that delegates expect silver prices to rise to $15 an ounce by the end of October 2019 from around $14.50 on Tuesday.

Gold in USD (10 Years)

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Gold in USD (10 Years)

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Platinum prices were forecast to increase to $1,010 an ounce over the next year from around $835 on Tuesday and palladium was expected to rise to $1,195 from around $1,075.

Analysts and traders polled by Reuters this month said they expected gold prices to average $1,300 an ounce in 2019, silver to average $16.40, platinum to average $875 and palladium to average $1,025.

Gold Analysts At LBMA See 25% Return To $1,532/oz In 12 months

Full article from Reuters

Full story here
Mark O'Byrne
I founded GoldCore more than 10 years ago and it has been my passion and a huge part of my life ever since. I strongly believe that due to the significant macroeconomic and geopolitical risks of today, saving and investing a portion of one’s wealth in gold bullion is both wise and prudent.
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