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Survey Averages Indicate Analysts Bearish On Silver, Platinum

  • Yesterday, the London Bullion Market Association released the results of its annual forecast survey. Among the 34 analysts who participated in this year's survey, expectations appear for gold prices to remain relatively stable. (Kitco)
  • Analysts, however, appear more bearish on silver as average estimates reside at $23.54/oz, down 6% from the 2021 average price of $25.14.
  • The most bullish forecaster (Sharps Pixley) predicts prices rising to around $30/oz:
    • "We consider the silver price to be undervalued relative to most asset classes, particularly compared to other commodities," he said. "We expect the investment appetite to shift more and more towards silver this year to the detriment of gold investments."
  • On the other hand, precious metals analysts at Bank of China, sit on the most bearish end of the spectrum, with a price target of $17.20, citing the macro-environment as a clear headwind for Silver with the upcoming Fed tightening cycle.
  • Furthermore, analysts appear equally downbeat on the potential for platinum with an average price forecast of $1,063.40/oz, down 2.5% from the 2021 average of $1,090.20.

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