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Strategies & Market Trends : YellowLegalPad
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From: John McCarthy4/22/2007 1:06:52 AM
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LBMA 2007 Price Forecasts - Gold/Silver

The London Bullion Market Association (LBMA) has released their 2007 Forecast for Gold, Silver and Platinum prices. The LBMA is the trade association that acts as the coordinator for activities conducted on behalf of its members and other participants in the London bullion market. This work combines the predictions being done by all major bullion banks that are members of the LBMA as well as a number of precious metals consultancy groups.

For gold price predictions, only 4 out of 29 forecasters have a peak of $800 per ounce or higher, but more importantly, 10 out of 29 are predicting an average gold price for the year above $665 per ounce which would equate to a 10% annual return over 2006. For reference, the gold price averaged $444.50 for 2005, and $603.50 in 2006. Ross Norman is one of the most aggressive forecasters for gold and has been the best LBMA forecaster in gold the last three years.

Blanchard - High $825-850. Low $605. Average $725

For silver price predictions, 13 of 25 forecasters have a peak of $15 per ounce or higher. 5 out of 25 are calling for prices to rise at or above $18 per ounce (Blanchard’s prediction for 2007 is $18-20 per ounce high). For reference, the silver price averaged $7.31 per ounce in 2005 and $11.55 in 2006. The most aggressive price model is from Adam Graf who was the closest forecaster for 2006 in the same survey.

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