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Precious Metals Prices

Precious metal prices were down 0.3% month on month on average in September, following the 1.7% decline in August.

Average prices for gold, silver, platinum and palladium all declined in September for the second straight month. Investor demand was likely dampened by expectations of the Federal Reserve keeping interest rates higher for longer, together with an accompanying uptick in U.S. Treasury yields. Higher yields eroded the allure of precious metals, which do not bear interest. Simultaneously, a strengthened U.S. dollar exerted a downward influence on precious metal prices throughout the month, by elevating their cost for international investors. However, heightened safe-haven demand amid a potential U.S. government shutdown limited the decline in precious metal prices. Moreover, persistent power shortages in South Africa stemmed the decline in palladium and platinum prices.

This chart displays Gold (US$/toz) from 2022 to 2024.

Precious Metals Historical Price Data

Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022
Gold LBMA - - - - - 1,874 1,729 1,732
Handy & Harman Silver - - - - - 22.66 19.26 21.30
Palladium LME - - - - - 2,098 2,077 1,931
Platinum LME - - - - - 959 887 971

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Price forecasts and historical data for Precious Metals.

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