Precious metals prices will see double-digit gains in 2021; silver to steal the show - LBMA price forecast

(Kitco News) - The bull run in precious metals is expected to continue through 2021 with double-digit gains across the board, according to analysts participating in the London Bull Market Association's (LBMA) annual price forecast report.

Thursday, in its annual report, the LMBA said that 38 market analysts participated in this year's forecast survey. Gold prices are expected to average $1,973.80 an ounce, up 11% from the 2020 average. However, the outlook is only a modest 4.5% increase compared to the average price seen in the first half of January.

"Gold is expected to be subjected to a high level of volatility in 2021, with the widest forecasts predicting a high/low range of $1,192 compared to $780 in 2020," the LBMA said in the report.