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© hereaus General | January 12, 2017

Heraeus precious metals forecast – gold and silver to see comeback

Precious metals dealer, Heraeus, expects rising prices for the precious metals gold and silver in 2017, while platinum remains threatened by excess supply.
Demand is high for palladium, which must defend its high price level in the year ahead. These are the results of the new precious metals forecast from Heraeus Metal Management.

Guarded optimism about developments in the price of gold: The Heraeus Metal Management experts expect trading to range between USD 1,060 and USD 1,300 per ounce. The gold market is at the beginning of the year under the influence of a strong US dollar, which in turn benefits from expectations of rising interest rates. Important elections in France and Germany, along with uncertainty about the policies of US President-elect Donald Trump, could lead to fluctuations during the year.

Strong demand is aiding an upswing in the price of silver: Rising global demand for bars, coins and jewelry, along with industrial demand from for example in the photovoltaics sector, are boosting the price of silver. Heraeus Metal Management is predicting prices ranging from USD 15 to USD 23 per ounce.

The emissions scandal as well as discussions about the future of the combustion engine could influence the price of platinum during the year. In Europe, diesel vehicles have already dropped below 50% of all new registrations. The jewelry industry, the second important pillar of demand, has also perceptibly sagged. Heraeus Metal Management therefore anticipates an average price of USD 950 per ounce and prices ranging from USD 820 to USD 1,050 per ounce.

Palladium has definitely increased in value during the past year and must now defend its high price level in the year ahead. Prices are expected to range from USD 585 to USD 850 per ounce, with an average value of USD 725 per ounce. The significant driver is the increased demand from China and the US for gasoline engine catalysts. The gross demand for palladium reached in 2016 about 250 tons (approx. 8 million ounces). About 220 tons (approx. 7 million ounces) came from primary production of the mines. The difference is largely made up by recycling catalytic converters, supplying about 60 tons (approx. 1.8 million ounces) of palladium.

Additional forecasts on developments for the precious metals rhodium, ruthenium and iridium are included in the full version of the Precious Metals Forecast from Heraeus Metal Management.

Die Handelsspannen im Überblick:
Precious metalRange
GoldUSD 1,060 bis 1,300/oz.
SilberUSD 15 bis 23/oz.
PlatinUSD 820 bis 1,050/oz.
PalladiumUSD 585 bis 850/oz.
RhodiumUSD 700 bis 950/oz.
RutheniumUSD 30 bis 45/oz.
IridiumUSD 625 bis 800/oz.

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May 22 2017 11:07 PM V8.2.2-1