2016 Conference Forecast Results
Wednesday, October 19, 2016
Conference Delegates Forecast Bullish Outlook for all Four Metals.
Delegates at the 2016 LBMA/LPPM Conference in Singapore forecast that all four metals will increase in price by the time of the 2017 Conference in Barcelona, 15-17 October. At the end of the conference delegates forecast that the gold price would be $1,347 by the start of the conference in Barcelona, an increase of 7.4% against the pm price of $1,254.8 on Monday 17 October, 2016.
Delegates also forecast increases for the other precious metals. They were most bullish about the prospects for silver, predicting a price of $20.9, just over 20% higher than Monday's closing price of $17.4. They also forecast that the platinum price would be $1,055.3, 13% above Monday's pm price of $932. They were even more bullish about the prospects for palladium, forecasting a price of $752.5, more than 17% above Monday's pm price of $641.
The Conference in Singapore once again proved another great success, with more than 700 delegates in attendance from 34 countries. Delegates voted the Producer and Refiner session, moderated by Courtney Lynn, as their favourite session. William White, Chair of the OECD EDR Committee, scooped the Best Speaker prize. He wins a 1 oz gold bar, kindly donated by Metalor. Results of the Conference voting and feedback are here and the presentations from the Conference can be found here.