Sharps Pixley Retain Top Slot as LBMA Gold Forecasters Over Last 11 Years
The first week of January sees the release of a raft of forecasts and
few are more prestigious than the gold forecast
compiled by the London Bullion Market Association (LBMA) from leading
bullion analysts.
The LBMA invites about 30 analysts to contribute their thoughts by
providing a prediction of the expected price range,
the average gold price for the year and some commentary about the key
drivers of prices in the year ahead.
We are pleased to report that Sharps Pixley's CEO, Ross Norman,
continues to hold the top slot with his consistently accurate
bullion market forecasts, averaging a position of 7.27 since 2001 (among
those who have submitted at least 5 forecasts).
More commonly, Ross' forecasts have been spectacularly good - or the
opposite - which is perhaps the hallmark of his being
a contrarian. "Buy on fear and sell on certainty" has been his guiding
principle.
Other consistently impressive forecasts were provided by Philip Klapwijk
of Thomson Reuters/GFMS, Martin Murenbeeld of Dundee
Asset Management and Frederic Panizzutti of MKS Finance.
Forecasting is a treacherous business at the best of times but arguably
more now than ever, as evidenced by stories of several leading
hedge funds who have returned money to investors on the basis that
markets are untradeable ; the rationale for this seems to be the
excessively large impact that political decisions (which are themselves
largely unpredictable) and by extension so is the impact on
the economic outlook.
With the LBMA publishing forecasts for 2013 in the next couple of weeks,
it promises to be closely scrutinized as ever.
Austin Kiddle
Sharps Pixley, London
www.SharpsPixley.com
03 Jan 2013
