"Precious Metals Forecast 2023: Analysts Predict Cautious Optimism for Gold and Silver"
Updated: Feb 3
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.
Further information: https://www.lbma.org.uk/forecast-survey-2023/at-a-glance