Precious Metals Price Outlook Economic Forecast

Precious Metals Price Outlook

Precious metal price growth eases in May

Precious metal prices edged up 1.2% month-on-month in May, slowing from April’s 4.4% upturn, but nevertheless marking the fifth increase in the past six months.

Robust safe-haven demand, unprecedented liquidity measures by major central banks and low interest rates globally continued to buttress precious metal prices in May, especially for gold and silver. Moreover, platinum prices rebounded in the same month, following three consecutive months of decline, further supporting the overall increase. Capping the overall increase, however, palladium prices plunged for a third month running in May, amid frail demand. 

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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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