The Global Precious Metals MMI Monthly Metals Index experienced a 7.66% decline in November, influenced by mixed trends in precious metal prices. While gold and silver showed upward movements, palladium and platinum prices faced downward pressure. Factors like central bank decisions, geopolitical uncertainties, and shifts in market demand contributed to these fluctuations. Palladium prices have been impacted by the growing popularity of electric vehicles, reducing the demand for palladium-based catalytic converters. Platinum prices are also declining due to the automotive sector's shift towards electric vehicles and ongoing supply chain disruptions. Silver prices experienced a slight dip, though they have since recovered. Gold prices have remained relatively stable, with experts predicting potential growth beyond $2,900 per troy ounce.
Via Metal Miner The Global Precious Metals MMI Monthly Metals Index dropped month-over-month by 7.66%. Precious metals prices showed mixed trends over the past month, shaped by central bank decisions, geopolitical uncertainties and shifts in market demand. While gold and silver continued to rise, platinum and palladium encountered declining momentum.
Mining restrictions and supply chain disruptions also continue to plague the platinum market. For that reason, many experts anticipate that platinum could continue to experience a supply deficit. Precious Metals Prices Silver Silver prices faced downward pressure over the past month, hitting an intraday low of $30.51 by mid-November. This marked the first drop to $30 since September 2024, though prices have remained above this threshold since then.
Precious Metals Palladium Platinum Silver Gold MMI Market Trends Prices Electric Vehicles Supply Chain Disruptions
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