A group of analysts recently submitted their 2015 gold and silver price predictions to the London Bullion Market Association.
When an average of each analysts’ prediction is calculated, we should expect to see gold stay around $1200 for the year, and for silver to drop a little bit to an average price of $16. The analysts also submit their predictions for platinum and palladium to the LBMA.
Out of all 4 of these metals, silver is expected to perform the worst.
Does this mean this is what’s actually going to happen?
According to Mineweb, don’t bet on it. In their story on the LBMA report, they explain rather poignantly:
There is something of a herd mentality amongst this group and few will stray far from making forecasts wildly above or below the prevailing price levels at the time the forecasts are made. While this may be fine as a generally conservative policy, it does mean most miss out on any major changes in the markets, up or down, which happen over a 12-month period.
Download the full report from LBMA here, or check out this blog for a quick breakdown of the price averages and the high and low estimates…