What will happen to Gold prices in 2017? – The Debate
Thursday, February 02, 2017
(Left to right) Bernard Dahdah, David Jollie, Joni Teves and Ruth Crowell
To complement the recent launch of the LBMA’s 2017 Precious Metals Forecast Survey, the LBMA invited the most bullish and bearish analysts in the Survey for gold to participate in a live debate in front of an audience of journalists. In the bull corner with her average forecast of $1,350 we had Joni Teves, Precious Metals Strategist at UBS Limited, and in the bear corner with his average forecast of $1,110 was Bernard Dahdah, Precious Metals Analyst for Natixis. To complete the illustrious line up we invited David Jollie, Market Analysis Manager at Anglo American Platinum to moderate the debate.
Adding further credibility to proceedings was the fact that Joni won first prize for both gold and silver in the 2016 Forecast Survey with Bernard taking the prize for palladium. Whilst the debate primarily focused on the direction of gold prices in 2017 and the likely drivers and influences that could impact on the price, Joni and Bernard also touched on the likely outcome for prices of the other precious metals.
Analysts who contributed to the Survey were invited to identify the top five drivers likely to influence the gold price in 2017. The top two drivers were the US dollar and US real interest rates, followed by demand in China and India, global political events and Trump's fiscal and international policies.
To read the full 2017 Precious Metals Forecast Survey please click here.