Precious Metals Price Outlook
Forecasts upgraded despite looming U.S. interest rate hike
FocusEconomics analysts raised their price forecasts for the precious metals market again this month, despite recent downward pressure on prices as expectations that the U.S. will continue to tighten monetary policy firm up. Our analysts see the FocusEconomics precious metals index averaging 191.0 in Q4 2017, above last month’s 188.5 projection. The result, if confirmed, would mark a 2.1% rise in prices from Q4 2016. In 2018, analysts see the index averaging 193.4 in Q4.
The upgraded outlook comes on the back of higher price forecasts for gold and palladium. Heightened geopolitical uncertainty is supporting demand for gold as a safe-haven asset, while palladium has been on a tear thanks to strong demand for the metal for use in automobiles. Meanwhile, the price forecasts for silver and platinum were downgraded this month.
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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