Precious Metals Price Outlook
All eyes on Federal Reserve meeting
Events in the precious metal market will be dominated by the outlook for U.S. interest rates as well as global uncertainty. Our analysts see the FocusEconomics precious metal index averaging 187.8 in Q4, which is only 0.4% above Q4 2016’s level. While elevated political uncertainty is fueling demand for gold and silver as safe-haven assets, a higher interest rate forecast for the U.S. is eroding gold and silver’s appeal as investments. In Q4 2018, the index is seen averaging higher at 193.2.
Meanwhile, a stronger global economy is supporting demand for palladium and platinum for their industrial uses. Palladium prices have surged in 2017 so far, buoyed by robust car sale data. While platinum has seen more moderate gains this year, a supply deficit is supporting a higher price outlook.
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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