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Precious Metals Prices

Precious metal prices rose 5.4% month on month in April, following March’s 2.1% increase.

April’s uptick was likely driven in part by strong safe-haven demand, amid concerns regarding the health of the U.S. banking sector, the political standoff over the U.S. debt ceiling and potential instability in U.S. commercial real estate. In addition, the dollar averaged around 2 % weaker in April than in March, making precious metals more affordable to holders of other currencies. Expectations of a more dovish Fed in light of recent banking turmoil further boosted interest in precious metals, which bear no interest. Moreover, platinum and palladium should have gained additional support from recovering automobile production in key global markets as semiconductor availability improved—platinum and palladium are used in vehicles’ catalytic converters.

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 - 1,815 1,790 1,796 1,877 1,874 1,729 1,732
Handy & Harman Silver - 26.7 24.3 23.4 24.1 22.7 19.3 21.3
Palladium LME - 2,787 2,462 1,939 2,329 2,098 2,077 1,931
Platinum LME - 1,181 1,023 998 1,029 959 887 971

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Price forecasts and historical data for Precious Metals.

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