Skip to main content

Precious metals prices ‘between two extremes’ in 2018?

Global – Prices for gold may be as high as US$ 1510 or as low as US$ 1120 this year, so reports the London Bullion Market Association. ‘And it’€™s a similar story for the other metals, it points out in the latest Precious Metals Forecast Survey. Based on ‘strongly divergent views’ of market analysts, it is believed that 2018 will be ‘far from an average year’.

Average gold prices range from US$ 1215 to US$ 1381, but the overall mean is expected to be broadly in line with the price in the first half of January.

Analysts anticipate a bullish outlook for platinum prices in 2018, up 3.1% to an average price of US$ 1000. Average price forecasts range from US$ 862 at the bottom end to US$ 1140 at the top, with the overall average more or less in the middle.

Palladium was the top performing metal in last year; there was nearly a 17% increase in price, but analysts do not foresee a similar outcome in 2018. Indeed, it is argued that palladium will be the worst performing metal this year; ending up 1.5% lower at an average price of US$ 1080.

On the bright side, silver is expected to be the best performing of the four metals. The most bullish forecast is for an average price of US$ 20 and the most bearish is US$ 16.

Overall, silver is likely to end up ‘between the two extremes’ at US$ 17.81, representing a 4% increase on the average price in the first half of January.

Considering the trading range for palladium of US$ 750, US$ 518 for platinum, US$ 390 for gold and US$ 9 for silver, it could be an interesting if not a dramatic year for precious metals, the association observes.

Would you like to share any interesting developments or article ideas with us? Don't hesitate to contact us.

You might find this interesting too

Markets struggling as economies contract
Careful consumers will see fewer cars being scrapped

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe now and get a full year for just €136 (normal rate is €170) Subscribe
Share your shear stories and win a GoPro!

It’s safe to say that scrap shears are the pillars of the recycling industry. But which configurations are the future? Take part in our tech survey and get a shot at winning a cool GoPro camera!

Thousands of scrap shears are driving recycling businesses all over the world. When it comes to different types, an operator may opt for maximum tonnage or flexibility, such as a mobile set-up. An integrated baling system is also gaining popularity. Ultimately, there is no wrong or right shear; it comes down to how you’re going to use it.

Our survey is meant to map the wants and needs of today’s dynamic recycling industry. Voice your opinion here and, who knows, you may be able to capture your recycling facility in action in HD.

TAKE SURVEY!