(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.
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.
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Gold Prices (LBMA AM)
30 Oct: USD 1,220.00, GBP 956.36 & EUR 1,074.33 per ounce
29 Oct: USD 1,230.75, GBP 958.88 & EUR 1,078.38 per ounce
26 Oct: USD 1,236.05, GBP 964.98 & EUR 1,087.23 per ounce
25 Oct: USD 1,232.15, GBP 954.67 & EUR 1,079.36 per ounce
24 Oct: USD 1,231.65, GBP 952.80 & EUR 1,078.68 per ounce
23 Oct: USD 1,235.60, GBP 950.67 & EUR 1,076.45 per ounce
Silver Prices (LBMA)
30 Oct: USD 14.43, GBP 11.32 & EUR 12.71 per ounce
29 Oct: USD 14.65, GBP 11.42 & EUR 12.86 per ounce
26 Oct: USD 14.69, GBP 11.48 & EUR 12.94 per ounce
25 Oct: USD 14.74, GBP 11.43 & EUR 12.92 per ounce
24 Oct: USD 14.75, GBP 11.42 & EUR 12.92 per ounce
23 Oct: USD 14.71, GBP 11.33 & EUR 12.83 per ounce
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