Forecast Survey 2022

In this year’s forecast survey, we have 34 analysts – from 18 different cities representing all corners of the globe – offering their expert insight into the direction of precious metals prices in 2022.

As usual, we have invited them to forecast the average price of each of the four metals for the year ahead and to support their forecasts with insightful analysis and commentary.

Analysts in this year’s survey are neutral about the gold price in 2022 forecasting that prices are likely to be broadly flat in 2022 when compared against 2021 actual average prices. Palladium is unloved this year, with analysts forecasting prices against 2021 average prices to fall -18%, with more modest falls expected for silver (-6.4%) and platinum (-2.5%).

The deadline for analysts in this year’s survey was 14 January 2022, so they had the benefit of two weeks of trading before submitting their contributions.

If we compare analysts’ forecasts against actual prices in the first half of January 2022 we see a more bullish outcome for precious metals prices in 2022. The one exception is gold where analysts are forecasting a -0.4% fall in the price. However, they are more bullish about the prospects of the other three metals. In the year of the Queen’s platinum jubilee celebrations, analysts are most bullish about platinum prices, forecasting a +10% increase. More modest rises are forecast for silver and palladium, with increases of +3.6% and +3.8% respectively.