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2018 Precious Metals Forecast Survey Debate

Wednesday, January 31, 2018

(Left to right) Jon Spall, Rhona O’Connell, Ruth Crowell and Tom Kendall

Following yesterday’s launch of the LBMA’s 2018 Precious Metals Forecast Survey, the LBMA hosted a debate on precious metal prices during 2018. Jon Spall, LBMA Senior Advisor and of G-Cubed Metals, moderated the debate between Rhona O’Connell, Head of Metals, Commodity Research and Forecasts, Thomson Reuters GFMS and Tom Kendall, Head of Precious Metals Sales, ICBC Standard Bank.

Tom won the first prize for silver in the LBMA’s 2017 Forecast Survey with the GFMS team taking second place for gold, just 44 cents off the winning forecast from Bart Melek, TD Securities. Listen to the debate to hear what Rhona and Tom have to say about the prospects for each of the four metals in 2018 and the likely drivers that could influence prices.

Rhona commented “I suspect that the economic and political environments are flattering to deceive and that there are pressures building that will underpin an institutional move towards gold this year on the back of an escalating desire to hedge against risk”.


34 analysts contributed to the LBMA’s 2018 Forecast Survey. Strongly divergent views dominate this year’s forecast with contributors divided on the likely paths that precious metal prices will take over the year ahead. You can read the Survey here.