Precious Metals Price Outlook
Precious metal prices continue to fall in October due to stronger USD
Precious metal prices fell 1.3% month-on-month in October, after dipping 1.9% in September, marking the second consecutive monthly fall in prices.
Nearly all of the same factors that previously led investors to seek safe-haven demand in the USD and move away from precious metals—as prices tend to fall in times of heightened uncertainty—remained at the forefront over the past month. Gold, silver and platinum prices all tumbled in October, as renewed lockdown restrictions, uncertainty over the timing of another U.S. stimulus package and calls for additional monetary stimulus measures from the ECB sent investors running for the hills in recent weeks. That said, palladium prices continued to grow due to a surge in new energy-efficient vehicle sales in China in September–October, amid still relatively tight supply levels.
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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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