LBMA - FORECAST 2011 PREDICTS PRICE OF $1457 FOR GOLD

The London Bullion Market Association
13/14 Basinghall Street, London EC2V 5BQ
Tel: +44 (0)20 7796 3067 Fax: +44 (0)20 7796 2112 www.lbma.org.uk









Friday 7 January 2011
PRESS NOTICE

FORECAST 2011 PREDICTS PRICE OF $1457 FOR GOLD

Following are tables summarising the results of Forecast 2011, the LBMA’s annual survey on the direction of precious metal prices for the coming year. A total of 24 contributors have given us their estimates for the high, low and average price for 2011 for gold, silver, platinum and palladium, based on the London fixings, with a brief commentary on the major influences and activity for each metal covered.

In 2011, Forecast contributors predict rises for all precious metals for the second year in a row.
Their average gold forecast is US$1,457, a 19.0% increase on the 2010 average price, similar to
the forecast of $1,450 made by delegates at the 2010 LBMA Precious Metals Conference in
Berlin last September. Analysts predict that the average silver price will be $29.88, a 48.0%
rise on the 2010 average price.

The average 2011 Platinum price is forecast to rise 12.6% from the average 2010 price, to
$1,813 and palladium shows no sign of slowing down with an average 2011 price prediction of
$814.65, a 54.8% increase on last year’s bumper average price.

2010 was a very good year for LBMA forecasters. Their average gold price prediction of
$1,199, a 23.4% increase on the 2009 price, was just $26 lower than the actual average price of
$1,225. All metals rose as predicted, although silver and palladium exceeded almost everyone’s
expectations.

The full survey, including specially written commentaries and a deeper look at the historical
performance of the Forecast, will be published in mid January and will also be posted on the
LBMA website......read in full