The London Bullion Market Association (LBMA) hosts an annual price prediction competition, with the winners selected on their predictions of the average gold, silver, platinum and palladium prices for the year ahead. Competition entrants are by invitation only and are all considered experts in the precious metals field drawn mostly from the banking sector, so in general forecasts tend to err on the side of caution, although 2012 was something of an exception in this, at least as far as gold and silver were concerned.
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The average predictions from the LBMA panel of experts for the year for the four precious metals are as follows:
Gold – Average 2012 price - $1669. Average forecast for 2013 - $1753. (Up 5.1%)
Silver – Average 2012 price - $31.15. Average forecast for 2013 - $33.21. (Up 6.6%)
Platinum – Average 2012 price - $1552. Average forecast for 2013 - $1682. (Up 8.4%)
Palladiium – Average 2012 price $644.33. Average forecast for 2013 - $744.03. (Up 15.5%)
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While huge majority of Mineweb readers are not part of the LBMA’s invited panel (although almost certainly most, if not all, of the LBMA panel are Mineweb readers), you do all have the opportunity to see how your forecasts come out in comparison with those of the experts, at least as far as gold is concerned by entering our own Gold Price Prediction Competition, which closes at the end of the month.
To date Mineweb readers are predicting the following gold prices for the year: High - $2007, Low - $1593, Year end - $1893, Average: $1804 – so overall our readers are looking for an average price for the year of around $50 more than the LBMA experts panel. We’ll see how these pan out at the end of the year.
For your entries, you may cut and paste the form below as a guide ...
