Commerzbank’s experts continue to expect Silver to end the year at $30 per troy ounce, Platinum at $1,100 per troy ounce and Palladium at $1,050 per troy ounce. They are taking into account that the recent rise in the Gold price to a record level has failed to have an effect on the three precious metals mentioned above, Commerzbank’s commodity analyst Carsten Fritsch notes.

Forecasts for the other three precious metals remain unchanged

“This is probably due to the weak price trend in base metals, the reason for which we discussed above. This is because silver, Platinum and Palladium each have a high industrial use, meaning that economic concerns have a negative impact on price trends.”

“We think that silver, Platinum and Palladium will catch up slightly with Gold next year, as the economic outlook is likely to brighten as a result of the interest rate cuts. In addition, supply deficits are looming for all three markets, which should also have a positive impact on price developments.”