A recovery in the price of gold could also help platinum to achieve a slight upward trend. At the current level, the metal, which is mainly used in diesel exhaust catalytic converters, is cheap compared to gold. The platinum price could only be supported by a shortage of supply, for example by closing unprofitable mines. Weak demand from the jewellery industry does not promise to provide much support for the price either. Heraeus anticipates a price range of between 22 and 29 dollars per troy ounce.ĭespite a platinum market in deficit, the downward pressure from the weakening global economy is likely to keep the price in a similar trading range to this year. In addition, investors will react to the expected turnaround in interest rates by buying silver, as they did gold. Nevertheless, we expect demand for photovoltaics to remain high, particularly from China, but this alone will not be enough to offset the falling demand from the rest of the industry due to economic weakness. However, interest rate cuts usually indicate an ailing economy. Lower interest rates and a subsequently weaker US dollar should support the silver price. Heraeus also expects the price of silver to rise next year, but not as well as gold. Heraeus expects a range of 1,880 to 2,250 dollars per troy ounce. In addition, investors could turn to gold as a safe haven in view of the current crises. The strong demand for jewellery in India should also help. 'Despite high yields on the US bond market and a strong US dollar, gold has done very well - this points to a clear upward trend.' Ongoing purchases by central banks and ETF investors will also support the gold price. As the precious metal is predominantly traded in dollars, a weak greenback makes the precious metal cheaper on the global market, which ensures stronger demand and therefore higher prices. A lower US currency generally supports the gold price. Interest rate cuts make investments in interest-free assets such as gold more attractive and typically weaken the value of the dollar. 'The growing confidence that the US Federal Reserve has ended its cycle of interest rate hikes and could start cutting rates as early as spring will drive the gold price,' said Henrik Marx, Head of Precious Metals Trading, at the presentation of the annual Heraeus Precious Metals Forecast. Toll Manufacturing & Customized Catalyst DevelopmentĪccording to the world's largest recycler and trader of precious metals, Heraeus Precious Metals, the price of gold will continue to rise in the coming year and reach new records.Salts & Solutions (Heterogeneous Catalysts).Precious Metal Compounds & Homogeneous Catalysts.

Iridium silver metallic