LBMA Survey Shows Analysts Bullish on Precious Metals in 2016

Mining Weekly reported that a survey completed by the London Bullion Market Association (LBMA) shows that a partial recovery in gold, silver, platinum and palladium prices is expected in 2016. In all, 36 analysts participated in the survey.
As quoted in the market news:

Compared with the prices seen during the first half of January, the gold price was expected to experience a modest 1.1% uptick to an average of $1 103/oz for the full year – $57/oz below the actual average price in 2015 – with those surveyed predicting prices of between $960/oz and $1 225/oz.
The price of silver and platinum, which averaged $13.98/oz and $864/oz respectively in January, would increase 5.4% to a respective $14.74/oz and $911/oz.
This was below the average of $15.68/oz for silver and $1 053/oz for platinum reported in 2015. A more significant 12.7% surge to $568/oz was forecast for palladium prices; however, this also remained well below the $691.63/oz achieved in 2015.
Silver prices were expected to trade between $12.63/oz and $16.78/oz, with possible further supply deficits and a rise in jewellery and industrial demand, bolstering the price during the year.
Positive influences on platinum prices, which would range from $748/oz to $1 076/oz, included the prospect of supply deficits, strong automotive demand, limited strikes and the outcome of wage negotiations in South Africa.
Palladium prices would rise on a continued supply deficit and the prospect of strong demand from gasoline automotive sales growth.

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