Precious Metals Growth Predicted In 2021

Precious Metals Growth Predicted In 2021

Precious metals growth predicted in 2021.

Threats of market turbulence, negative real bond yields, massive government debts and threats of inflation will continue to prevail in 2021, but this is good for gold, which could rise another 20% over the next few years.

The Coronavirus pandemic prompted investors to retreat to safe havens such as precious metals. This turned out to be good for precious metals growth in 2021. This, coupled with supply shortfalls, pushed gold and palladium prices up more than 20% in 2020, while silver was up 47% and platinum 10%.

Experts believe its dual role and higher volatility, mean silver could outperform gold as economic growth recovers. In addition, US President-elect Joe Biden’s intentions to use more clean energy, could drive greater use of this metal.

While demand for physical gold was affected, as the virus triggered global closures, investment demand increased, as reflected by the holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, which registered its biggest annual gain since 2009 at around 30%. Currently, prices have dropped to around $1,900 an ounce, amid the news about Covid-19 vaccines.

In the year 2019, due to the slow down in economic growth, the price of gold began to rise. Albeit, the process accelerated during the pandemic and in August, this precious metal reached its all-time high of $2,072.50 per ounce.

The positive trend for precious metals will continue in 2021 and silver will see the “biggest gains”, predict analysts.

Silver – which in addition to being a safe haven is also an industrial metal used in various products – rose from $18 per ounce in January, to nearly $30 in August, before falling to about $25 per ounce. The good news is that precious metals growth has been predicted in 2021

Threats of market turbulence, negative real bond yields, massive government debts and threats of inflation will continue to prevail in 2021, but this is good for gold, which could rise another 20% over the next few years.

The Coronavirus pandemic prompted investors to retreat to safe havens such as precious metals. This turned out to be good for precious metals growth in 2021. This, coupled with supply shortfalls, pushed gold and palladium prices up more than 20% in 2020, while silver was up 47% and platinum 10%.

Experts believe its dual role and higher volatility, mean silver could outperform gold as economic growth recovers. In addition, US President-elect Joe Biden’s intentions to use more clean energy, could drive greater use of this metal.

While demand for physical gold was affected, as the virus triggered global closures, investment demand increased, as reflected by the holdings of the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, which registered its biggest annual gain since 2009 at around 30%. Currently, prices have dropped to around $1,900 an ounce, amid the news about Covid-19 vaccines.

In the year 2019, due to the slow down in economic growth, the price of gold began to rise. Albeit, the process accelerated during the pandemic and in August, this precious metal reached its all-time high of $2,072.50 per ounce.

The positive trend for precious metals will continue in 2021 and silver will see the “biggest gains”, predict analysts.

Silver – which in addition to being a safe haven is also an industrial metal used in various products – rose from $18 per ounce in January, to nearly $30 in August, before falling to about $25 per ounce.

The good news is that precious metals growth has been predicted in 2021.

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