Precious Metals Price Outlook
Safe-haven demand fuels small forecast upgrade
The Consensus Forecast for the precious metals market rose moderately this month, as a weak U.S. dollar and high amount of global uncertainty continue to push up prices. Although safe-haven demand for gold and silver is elevated following North Korea’s nuclear test, profit-taking by investors will likely take a bite out of price gains by year-end. The precious metals index is expected to average 192.2 in Q4 2017, above last month’s 191.2 projection. The result, if confirmed, would mark a 2.7% rise in prices from Q4 2016. In 2018, the index is expected to average 194.8 in Q4.
Gold and palladium saw upgrades to their price projections this month. Expectations of a more gradual tightening cycle by the U.S. Federal Reserve has helped boost gold’s price projection. Meanwhile, platinum and silver saw minor downgrades.
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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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