Precious Metals Price Outlook Economic Forecast

Precious Metals Price Outlook

U.S. monetary tightening and global demand concerns drag down precious metal prices in July

Prices for precious metals declined for the fifth time in the last six months in July. Precious metals prices fell 3.6% on a month-on-month basis in July (June: -1.6% month-on-month).

The story about precious metals remains largely untouched from previous weeks. Robust economic growth in the United States is forcing the Federal Reserve to tighten its monetary policy. As a result, U.S. yields are rising, shifting capital flows from safe-haven assets such as gold to U.S. dollar-backed assets. Moreover, a somber global economic outlook is prompting reduced demand among investors for industrial metals.

As over the last few months, prices for precious metals will be determined by geopolitical developments and the pace of monetary tightening in the United States further down the road. All in all, our panel of analysts expect precious metal prices to rise 1.3% year-on-year in Q4 2018. The Met the why particular panel sees prices expanding at a quicker year-on-year pace of 2.6% in Q4 2019.

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Precious Metals Historical Price Data

2012  2013  2014  2015  2016  
Gold1668.69  1411.71  1111.83  1159.8  1248.54  
Silver31.14  23.82  19.07  15.71  17.15  
Palladium643.47  725  803.44  690.55  614.03  
Platinum1549.48  1485.41  1383.61  1151.85  987.37  

Note:
Gold prices in USD per troy ounce (toz).
Silver prices in USD per troy ounce (toz). 
Palladium prices in USD per troy ounce (toz). 
Platinum prices in USD per troy ounce (toz). 
All prices are average of period (aop). 

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Price forecasts and historical data for Energy, Metals and Agricultural Commodities

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