The expectations for the gold and silver price in 2021
The LBMA (London Bullion Market Association) has published its latest forecast survey
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According to the survey, forecasters expect an average gold price in 2021 of US$1,973.80 per troy ounce. This would be an increase of 11.5 percent compared with the average price in 2020. This is because last year the price of the precious metal averaged US$1,769.60 per troy ounce. Expectations are even higher for the price of silver: a substantial increase of 38.7 percent compared with the previous year, measured against the average price for the year.
So, the price forecasts for silver are about three times higher than for gold. It is also interesting to look at previous price forecasts of the LMBA. Often, the expectations were lower than the actual price increases.
The reasons for the presumed price increases in gold and also silver are, first, fiscal and monetary stimulus, rising consumer price inflation and, second, large budget deficits, rising government, household and corporate debt. On the other hand, the supply of gold mines has peaked, and the Covid-19 pandemic has strengthened the role of gold as a strategic asset.
Add to that the strong economic recovery in Asia, as China and India account for almost half of the demand for physical gold.
At the moment, it could also be worthwhile to invest in precious metals stocks. First, there is Bluestone Resources - https://www.youtube.com/watch?v=cLKDAKdj0KE. The Cerro Blanco project in Guatemala, which is wholly owned by the company, is said to contain around one million ounces of gold and three million ounces of silver.
Also, a promising candidate is Karora Resources - https://www.youtube.com/watch?v=wro6p-p0Jm0. Two producing gold projects in Western Australia, Beta Hunt (underground mine) and Higginsvielle Gold Operations (open pit mine) are part of the portfolio.
Current corporate information and press releases from Bluestone Resources (https://www.resource-capital.ch/en/companies/bluestone-resources-inc/) and Karora Resources (https://www.resource-capital.ch/en/companies/karora-resources-inc/).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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