Precious Metals Price Outlook Economic Forecast

Precious Metals Price Outlook

Reduced geopolitical risks tame demand for precious metals in October

Precious metal prices decreased 0.5% month-on-month in October, contrasting September’s 2.0% increase and marking the first drop in the last five months.

The rally in precious metal prices relinquished in October, mostly reflecting a warmer relationship between China and the United States. Moreover, the Fed’s decision to pause its easing cycle reduced demand for safe-haven assets. However, the upward trend in precious metal prices could resume in the coming months as most of the supportive factors, especially an uncertain global economic outlook, are still in place. Palladium prices were again the main exception to the overall trend, propelled by solid demand for gasoline cars and supply constraints. 

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Precious Metals Historical Price Data

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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