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  • Writer's pictureJuan Cabrera

"Precious Metals Forecast 2023: Analysts Predict Cautious Optimism for Gold and Silver"

Updated: Feb 3, 2023

The 2023 LBMA Annual Precious Metals Forecast Survey is an interactive platform that allows readers to explore the individual forecasts and commentary of 30 precious metal analysts.

The survey reveals a cautiously optimistic outlook for gold and silver prices in 2023, with average price increases of 3.3% and 8.8% respectively forecast by the end of the year.

Palladium is expected to see a 14.3% decrease in prices, while platinum is expected to see a 12.5% increase.

The survey deadline of 18 January 2023 gave the analysts the benefit of observing two weeks of trading.

The actual prices in the first half of January 2023 indicate a slightly more bullish outcome for precious metals. 43% of the analysts cited the US dollar and Fed's monetary policy as the top driver for the price of gold in 2023, followed by inflation and geopolitical factors.



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