Each year LBMA members forecast precious metal prices including gold for the next year. For several years now, Ross Norman of The Bullion Desk in London has been one of the most bullish and most accurate forecasters.
We present below a table in ascending order of maximum price forecast for the year to date (YTD), with the YTD figure included in its correct place in the body of the table itself. This gives a quick visual indication of whose maximum forecast was closest.
2009 LBMA Gold Price Forecasts in US Dollars
| Name | High | Low | Average |
|---|---|---|---|
|
Rene Hochreiter Allan Hochreiter (Pty) Ltd
|
$750 | $600 | $675 |
|
Bhargava Vaidya B.N. Vaidya & Associates
|
$895 | $670 | $750 |
|
James Steel HSBC Bank USA NA
|
$950 | $700 | $825 |
|
Robin Bhar Calyon Credit Acricole
|
$975 | $775 | $890 |
|
Tom Kendall Mitsubishi Corporation (UK) Plc
|
$985 | $725 | $880 |
|
Suki Cooper Barclays Capital
|
$1,000 | $720 | $840 |
|
John Reade UBS Investment Bank
|
$1,000 | $600 | $700 |
|
Jeffrey Rhodes INTL Commodities
|
$1,005 | $710 | $839 |
|
Adrien Biondi Commerzbank International SA
|
$1,050 | $800 | $950 |
|
Average Forecasts
|
$1,074 | $721 | $881 |
|
Matthew Turner Virtual Metals
|
$1,075 | $700 | $905 |
|
David Davis Credit Suisse Standard Securities
|
$1,080 | $735 | $898 |
|
Walter De Wet Standard Bank
|
$1,080 | $750 | $915 |
|
Michael Jansen J.P. Morgan Chase Bank
|
$1,100 | $725 | $825 |
|
Bob Takai Sumitomo Corporation
|
$1,100 | $700 | $900 |
|
Wolfgang Wrzesniok-Rossbach Heraeus Metallhandelsgesellschaft m.b.H.
|
$1,100 | $700 | $910 |
|
Hussein Allidina Morgan Stanley
|
$1,100 | $750 | $950 |
|
Edel Tully Mitsui & Co. Precious Metals, Inc
|
$1,105 | $680 | $906 |
|
Daniel Smith Standard Chartered Bank
|
$1,150 | $800 | $895 |
|
Martin Murenbeeld Dundee Economics
|
$1,150 | $755 | $945 |
|
Frederic Panizzutti MKS Finance S.A.
|
$1,180 | $720 | $901 |
|
Trevor Turnbull Scotia Capital
|
$1,200 | $750 | $965 |
|
Jeffrey Christian CPM Group
|
$1,200 | $750 | $826 |
|
YTD Actual
|
$1,218.25 | $810 | $964 |
|
Philip Klapwijk GFMS Ltd
|
$1,260 | $780 | $970 |
|
Ross Norman TheBullionDesk
|
$1,275 | $720 | $988 |
Comments
Out of the 24 individual forecasts, 22 had been surpassed as at 2nd December. Almost incredibly, the lowest "high" forecast was actually less than the year's all time low! The "average of all the forecasts has been bettered by 10%.
Will Ross be the closest yet again?
2009 Final Review
In January 2010, we were able to complete this page by adding our final review of the year.
The highest dollar price $1218.25 was achieved on the a.m. fix on the 3rd December, beating 22 of the 24 forecasts. The closest pair were Trevor Turnbull of Scotia Capital and Jeffrey Christian of CPM Group if we compare highest price forecasts, but the former wins if we use the average figure as a tie breaker, although our average figure stated is a slight approximation.
2010 LBMA Gold Price Forecasts With our comments.
2011 LBMA Gold Price Forecasts With our comments.
2012 LBMA Gold Price Forecasts With our comments.
The World Gold Council compile regular and abundant statistics on the gold market.
32 - 36 Harrowside, Blackpool, Lancashire, FY4 1RJ, England. Telephone (44) - (0) 1253 - 343081; Fax 408058;
E-mail: Contact Us The URL for our main page is: taxfreegold.co.uk