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Precious Metals Prices

Precious metal prices were down 1.7% month on month on average in August after remaining unchanged in July

Average prices for gold, silver, platinum and palladium declined in August. Investor expectations of higher rates from the Fed and increased U.S. Treasury yields diminished the attractiveness of precious metals, which do not bear interest. Additionally, a stronger dollar exerted downward pressure on precious metal prices during the month, making them more expensive for international investors and thereby reducing their appeal. Regarding gold specifically, the Turkish authorities’ imposition of a tariff on some types of the metal weighed on demand. As for platinum and palladium, projected increased supply ahead from some major mines in Africa and, to a lesser extent, North America, also exerted downward pressure on spot prices.

This chart displays Gold (US$/toz) from 2021 to 2023.

Precious Metals Historical Price Data

Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
Gold LBMA - - 1,790 1,796 1,877 1,874 1,729 1,732
Handy & Harman Silver - - 24.3 23.4 24.1 22.7 19.3 21.3
Palladium LME - - 2,462 1,939 2,329 2,098 2,077 1,931
Platinum LME - - 1,023 998 1,029 959 887 971

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Price forecasts and historical data for Precious Metals.

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