Precious Metals Prices

Precious metal prices increased 8.9% month on month in September, following August’s 0.5% rise.

The average price of precious metals rose in September for the ninth straight month, defying signs that August’s slowdown in price gains may have marked the end of the eight-month uptrend. Average prices of all four metals rose in September: The Fed’s interest rate cut boosted investor demand for silver, platinum and gold, while the impending U.S. government shutdown provided further impetus by bolstering safe-haven demand. Still, silver shone brightest as prices skyrocketed to a 14-year high. Moreover, the threat of duties on Russia’s palladium exports lifted prices for the metal in September.