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

buying shares
Stock Market
Citigroup analysts: buying shares in Europe is more profitable than in the U.S.
27.08.2022
US Federal Reserve is printing dollars
Stock Market
The U.S. Federal Reserve is printing dollars to support the market in times of crisis
29.11.2020
record inequality in the U.S.
Stock Market
Record inequality in the U.S.: the reasons for the wealthy’s capital increase
10.07.2022
Steel prices
Stock Market
Steel prices in China hit a record low
20.09.2022
Major global companies
Stock Market
The world’s major companies showed record growth dynamics of capitalization
22.02.2022
Ant Group
Stock Market
Fintech division of Alibaba Ant Group is going IPO
07.06.2021

Recent Posts

  • 1inflation in the UK
    Inflation in the UK will decline: analysts’ forecasts
    03.06.2023
  • 2Mary Erdoes
    Mary Erdoes: the most powerful woman on Wall Street
    02.06.2023
  • 3Pilatus Aircraft
    Pilatus Aircraft: the history of the Swiss aircraft manufacturer
    01.06.2023
  • 4investment triangle to select a particular asset
    Investment triangle: how to choose the best asset for investment
    31.05.2023
  • 5Nissan and Renault
    Nissan and Renault invest $600 million in a joint venture
    30.05.2023

Popular Posts

  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Direct listing as a beneficial alternative to an IPO

Social media

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

Latest Posts

inflation in the UK
Inflation in the UK will decline: analysts’ forecasts
03.06.2023
Mary Erdoes
Mary Erdoes: the most powerful woman on Wall Street
02.06.2023
Pilatus Aircraft
Pilatus Aircraft: the history of the Swiss aircraft manufacturer
01.06.2023

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Direct listing as a beneficial alternative to an IPO
  • GDP of Asian countries is slowly recovering from the pandemic
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

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