Precious Metals Prices

Precious metal prices increased 3.0% month on month in June, following May’s 2.1% rise.

Precious metal prices rose for the sixth month running in June. Upward pressures across all metals stemmed from escalating tensions in the Middle East, fueling investors’ appetite for safe-haven assets plus a weaker USD made metals cheaper to purchase. Looking at individual metals, gold prices soared to a fresh all-time high around mid-June but eased later in the month due to a reported Israel-Iran ceasefire and easing global trade tensions. Meanwhile, prices for palladium, platinum and silver benefited from meager price ratios against gold, the former two hitting over one-decade highs in the month. Supply concerns added further impetus to the price rallies for palladium and platinum.