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LBMA Survey Averages Suggest Gold Price May Remain Neutral In 2022

GOLD
  • After gold's underwhelming performance in 2021, analysts are tempering their enthusiasm, according to the London Bullion Market Association's 2022 forecasts. (Kitco News)
  • Among the 34 analysts who participated in this year's survey, expectations are for gold prices to remain relatively stable, averaging $1,801.90/oz, relatively unchanged from last year's average price of $1,798.60.
  • While the average price is expected to be relatively flat, analysts see the potential for the market to swing within a $780 range. According to the report, analysts are watching three factors to impact gold this year, rising interest rates, the growing inflation threat and higher market volatility.
  • The most bullish forecaster is Degussa, seeing the potential for gold prices to push to $2,280 as the Fed’s hikes will mostly be "cosmetic." The chief economist added that real interest rates will remain in negative territory as the Fed will not keep inflation under control.
  • The most bearish projection came from analysts at Natixis who suggested gold prices could drop to $1,630/oz, expecting much lower levels of inflation for 2022.
  • Commenting on the most recent price swings, the chief market analyst at CMC Markets UK stated, "gold continues to be pulled back and forth because of the ebb and flow of the U.S. bond market, as well as the strength of the U.S. dollar”. (DJ)
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