Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
gold prices will rise
Stock Market

LBMA analysts: gold and silver prices will rise in 2023

11.05.2023
2 min read

Gold and silver prices will rise: the reasons for the dynamics

In 2022, many countries resorted to a tightening of monetary policy in order to curb inflation. Not immediately, but after some time such measures gave their result, changing the situation for the better. According to experts, the positive dynamics should help to soften the measures to combat inflation, introduced by the Fed. However, changes in the policy of the U.S. regulator, combined with a weakening of the dollar will contribute to higher prices for gold and silver.
Thirty analysts participated in the annual LBMA survey, and almost all of them expect precious metals to rise in price in 2023. Gold is predicted to rise in price by about 3.3% and silver by 8.8%. According to 43% of the polled analysts, the main reason for the rise in price will be a decrease in the value of the dollar and the change in the monetary policy of the Federal Reserve. 14% of respondents believe the key reason is the rise in inflation, while 11% are inclined to believe the influence of geopolitical factors.
In 2023, the average gold price is projected to be $1,860 per ounce. In this case, the range of fluctuations in the price is from 1594 dollars to 2025 dollars per ounce. It should be noted that in last year’s LBMA survey, experts pointed to similar price dynamics. In 2022, on average, an ounce of gold was sold for $1,800.gold pricesThe rise in price will also affect silver. The price of this metal will be about $23.7 per ounce, while in 2022 an ounce of silver cost $21.7. The minimum price of silver will be about $17.5 per ounce, and the maximum will be $27.
As for other metals, analysts predict that palladium prices will drop about 14.3%, with an ounce trading for $1,809.8. By comparison, an ounce of palladium averaged $2,112 in 2022.
Platinum is also expected to go up in price. The price of this metal will increase by 12.5%. In 2022, the price per ounce was about $1,080. Analysts predict a price range of $988 to $1,241 an ounce for 2023.
It should be noted that in 2022, the demand for gold from central banks has grown to a maximum of the last 55 years. And if earlier regulators informed the IMF about purchasing of metal, now they try to conduct transactions confidentially not to stimulate the growth of prices. For example, back in September 2022, China bought 902 tons of gold, which is the maximum amount for 3 years. At the same time, the country’s own gold production is 300 tons.

Tags: Stock Market
0
Previous Post The UAE government supports the business ideas of civil servants Next Post Elon Musk plans to launch payments on Twitter

You Might Also Like

FRS has lowered the stakes
Stock Market
FRS has lowered the bet: review of the new strategy from Jerry Powell
01.08.2020
small capitalization companies
Stock Market
Small capitalization companies show good stability
10.12.2022
bankrupt Silicon Valley Bank
Stock Market
Financial firms interested in buying Silicon Valley Bank
28.06.2023
broker's bankruptcy
Stock Market
How dangerous a broker’s bankruptcy can be for a client
26.07.2022
Boston Scientific
Stock Market
Boston Scientific acquired Apollo Endosurgery
28.02.2023
crypto industry has seen an increase in cybercrime
Stock Market
The Crypto industry records record growth in cybercrimes
02.07.2022

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Spain’s economy performs best in the EU
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics