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

October 31, 2018

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.


Gold in USD (10 Years)

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.

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.

Full article from Reuters

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Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth. 

The purity of gold is measured in carat weight.