April 26, 2023

LBMA Annual Precious Metals Forecast Survey Check In

How Do Analysts’ Forecasts Compare to Current Average Prices?

LBMA’s latest Annual Precious Metals Forecast Survey was published in January 2023. Thirty analysts across the globe took part – each forecasting the average price and price range of one or more of gold, silver, platinum and palladium – with commentary supporting their forecasts. Analysts were required to submit their forecasts by 18 January 2023.

But how are these analysts’ forecasts currently looking against current average prices* for 2023 so far?


With the current average gold price running at $1911.28 for the year, our closest analyst is currently Keisuke Okui (Sumitomo Corp) with his forecast of $1,905. And in second place currently is Srivatsava Ganapathy (Eventell Global Advisory P Ltd.) with his average price forecast of $1,895.


The current average price for silver is $23.01 so far for 2023. This means the closest analysts currently in joint-first position are Robin Bhar (Robin Bhar Metals Consulting) and Jonathan Butler (Mitsubishi Corportation) with their individual forecasts of $23.00. In second position is Suki Cooper (Standard Chartered) with her forecast of $22.80.


Prices for platinum this year so far are averaging $1004.27. The closest analyst to this average is currently Edward Gardner (Capital Economics) with his forecast of $1,000. Jacob Smith (Metals Focus) sits in second with his forecast of $1020.


With the current average price for palladium sitting at $1,554.72, joint leaders are currently Thorsten Polleit (Degussa Goldhandel) and Alexander Zumpfe (Heraeus Metals Germany GmbH & Co. KG) with their matching average forecast of $1,550. Runner-up currently looks to be Jonathan Butler (Mitsubishi Corporation) with his forecast of $1,600.

You can find out more about the LBMA Annual Precious Metals Survey on the LBMA website. If you would like to take part in the next forecast survey, please contact shelly.ford@lbma.org.uk for consideration.

*All average prices correct as at 25 April 2023.
**All actual price information given is PM auction prices in US Dollars.