Precious metal prices decreased 1.0% month on month in June, following May’s 1.2% rise.
Most precious metal prices reversed their recent gains in June; only silver prices rose on average in June from May. A stronger U.S. dollar—following the Fed’s upward revision to its end-2024 federal funds rate target—curbed demand for precious metals. Moderating Central Bank purchases dragged on gold prices, though elevated geopolitical tensions kept prices at historically high levels. Meanwhile, amply supply and platinum-for-palladium substitution weighed on palladium prices. In contrast, likely strong solar demand and an expanding market for electric vehicles boosted silver prices.
This chart displays Gold (US$/toz) from 2022 to 2024.
Precious Metals Historical Price Data
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | |
|---|---|---|---|---|---|---|---|---|
| Gold LBMA | 1,889 | 1,978 | 1,928 | 1,977 | 2,072 | 2,338 | - | - |
| Handy & Harman Silver | 22.56 | 24.19 | 23.56 | 23.26 | 23.37 | 28.81 | - | - |
| Palladium LME | 1,567 | 1,445 | 1,250 | 1,093 | 980 | 973 | - | - |
| Platinum LME | 995 | 1,026 | 931 | 914 | 911 | 980 | - | - |