The LBMA has recently released its 2024 Precious Metals Forecast Survey, in which it asked various analysts to submit their predicted price forecasts for each precious metal in 2024. All submissions for this survey were collected by close of business on 11 January 2024, allowing the analysts taking part to observe eight days of trading before submitting their predictions.
The key takeaways from this report indicate that all analysts see gold reaching new highs in 2024, with the price being driven overwhelmingly by United States monetary policy, central bank activity and geopolitical risks. Silver is expected to align with gold’s expectations but with a forecast trading range of over double the actual range during 2023.
Platinum is also projected to see modest gains compared to 2023, with price volatility expected. Palladium, however, sees bearish sentiment prevailing with lower prices predicted than 2023.
To read the full summary published by the LBMA and the specific forecasts for each precious metal, visit here.
Notes
The contents of this article are accurate at the time of publishing, are for general information purposes only, and do not constitute investment, legal, tax, or any other advice. Before making any investment or financial decision, you may wish to seek advice from your financial, legal, tax and/or accounting advisers.
