Gold industry sees price rising to near $5 000/oz over 12 months
The price of gold is expected to hit $4 980 a troy ounce over the next 12 months, up some 27% from current levels, delegates to the London Bullion Market Association's (LBMA) annual gathering in Kyoto predicted on Tuesday.
On track for its biggest yearly rise since 1979, gold's 52% growth so far this year has seen it break through $3 000 per troy ounce in March and then $4 000 in October - both seen as psychological resistance levels by market players.
Results of the LBMA poll were gathered in the organisation's annual poll and shown to delegates at the conference.
Political tensions, US tariff uncertainty and, more recently, a wave of fear of missing out on the advance saw gold rallying to a record of $4 381 an ounce on October 20.
The LBMA prediction compares with Reuters' latest poll of expectations, which delivered a 2026 average gold price forecast of $4 275 on Monday as economic and geopolitical turmoil keep the metal's safe-haven allure intact.
A poll of delegates from around the world at the LBMA conference also predicted that silver prices would jump to $59 per ounce in a year's time from around $46 on Tuesday.
Silver prices are up 62% so far this year, the most since 2010, after hitting a record high of $54.50 on October 17 due to strong investment demand, tight supply in the London spot market and elevated purchases in India.
They also forecast that platinum prices would climb to $1 816 an ounce from the current $1 544 and palladium would gain to $1 709 from around $1 364.
Platinum and palladium are up 76% and 54%, respectively, so far this year amid tight mine supply and concerns about the US tariffs, prompting outflows to US stocks.
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