Precious Metals Price Outlook Economic Forecast

Precious Metals Price Outlook

Precious metal prices surge in January 

Precious metal prices jumped 6.5% month-on-month in January, accelerating from December’s 1.5% rise and marking the strongest increase since July 2016.

January marked the second consecutive month where prices for all four surveyed precious metals rose on a monthly basis. Whereas heightened tensions in the Middle East and low global interest rates underpinned growth in precious metal prices in early January, the coronavirus outbreak was the key driver boosting safe-haven demand in the second half of the month.  The outbreak has led to a marked downturn in Chinese economic activity, fueling concerns it will dampen global growth. Meanwhile, palladium prices continued soaring for a fifth month running on increasing supply tightness.

 

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Precious Metals Historical Price Data

2015  2016  2017  2018  2019  
Gold1159.8  1248.54  1258.46  1269.41  1393.23  
Silver15.71  17.15  17.06  15.72  16.22  
Palladium690.55  614.03  869.99  1030.5  1538.2  
Platinum1051.85  987.37  948.13  879.15  863.77  

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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