Tuesday 2 January 2018

The prospects for precious metals in 2018

For next year the price of gold is expected to be far more volatile then in 2017, according to Georgette Boyle, an analyst at ABN Amro. The reason for this will be the ambiguity about the Fed's interest rate policy as well as the reduction in balance.
Otherwise, the prospects for gold are positive from a technical point of view after the metal has shed its 100-day moving average during the past week, at a level of $1,295 per ounce. While the metal is traded above this level, it is completely possible to see its further rise to $1,350 per ounce, market observers say.
For other metals, palladium is the best-performing metal, reaching its highest level since February of 2001. Palladium deals with an unusually high premium over other metals such as platinum.
Platinum rose 3% this year and silver only 6%. It is quite possible that this will give them a good catch-up potential for next year, according to analysts.


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