Precious Metals Price Outlook
Precious metal prices drop for first time in seven months in March
Precious metal prices declined in March following six months of consecutive increases. Precious metal prices fell 0.8% on a month-on-month basis, which contrasted February’s 2.7% increase.
An improved global economic panorama as the U.S. and China continue with trade talks and a strong U.S. dollar weighed on prices for safe-haven assets such as gold and silver. Although palladium prices logged their seventh consecutive monthly increase in March, they retreated sharply at the end of the month on profit-taking. Platinum prices trended higher in March as its large discount against palladium makes the metal attractive, especially for carmakers to produce catalytic converters.
Met the why particular panelists see precious metal prices rising 9.7% in Q4 2019 compared to the same period of 2018. The strong increase expected by the end of this year will mostly reflect the rally observed in recent months rather than a sharp upward trend from now until the end of the year. Our panelists expect the upward trend to continue in the following year and see prices 2.8% higher 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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