Tuesday, 27th June 2006 (3113 views)

A poll taken at the London Bullion Market Association (LBMA) conference today (Tuesday, 27 June) showed that members had confidence in the fact that gold prices would rise again by next year.

The survey of around 150 delegates, including bankers, fund managers and gold producers, indicated that spot gold prices were expected to reach $698.60 an ounce by November 2007.

The rise would demonstrate a 19 per cent rise from current prices and very nearly wipe out the worrying hits to the value of the precious metal taken in recent months, following its astronomical climb to a 25-year high of $730 an ounce earlier this year.

The survey also showed that platinum, silver and palladium prices were expected to see similar surges, estimates placing their November 2007 price at around $1,305.80, $16.10 and $444.10 an ounce, respectively.

The same delegates noted that they expected the most significant factors in these rises to be the price of the dollar, oil prices and hedge fund investor groups.

 

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