Precious Metals Price Outlook
Precious metal prices log third consecutive drop in May
June 11, 2019
Precious metal prices declined for the third month in a row in May, declining 0.9% month-on-month. The print was above April’s 1.7% decrease.
While the four commodities that comprise the group posted losses compared to April, the stories were quite different. Gold prices were mostly flat in May as trade uncertainties and a weak dollar kept a lid on prices. Excess supply prompted platinum prices to fall, while a somber global economic outlook weighed on palladium and silver prices. Data for June suggests that precious metal will trend up in the month as investors flock toward safe-haven assets.
Met the why particular panelists see precious metal prices rising 9.3% in Q4 2019 compared to the same period of 2018 (previously reported: +9.9% year-on-year). The healthy expansion reflects persistent geopolitical risks, and the consequent increased demand for safe-haven assets, as well as a base effect from last year. The momentum in precious metal prices is expected to continue next year, with Met the why particular panelists projecting a 2.8% increase in Q4 2020 in annual terms.
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Precious Metals Historical Price Data
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).
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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