Museum treasures gold, silver, platinum, palladium rates will rise
Gold prices are expected to climb above $1,000 per ounce and silver prices will reach a high of $4,500 per ounce, according to a survey from the National Association of Metal Collectors.
The group’s quarterly survey found that gold prices have risen more than 10 percent in the last year, driven by higher gold demand.
Gold has gained over 10 percent from its September lows.
The price of silver has been gaining steam as well.
The metal has risen as high as $6,100 per ounce in the past month, according the survey.
The group said the gold and silver markets were expected to reach $4.3 billion in total revenues by 2021.
Gold and silver metals have also been a strong driver of gold and platinum prices, which are up nearly 25 percent in value in the year to date.
Silver has seen a significant spike in the second half of 2017.
In September, silver’s price rose more than 25 percent and gold prices rose 17.5 percent.
“Gold and silver’s gold price gains are in line with the gold price trend,” the survey said.
“Both metals have been very profitable in the bull market, and gold is now the most profitable asset class.”
The survey found the industry is also benefiting from the end of the Trump administration.
In the months following the November elections, gold, platinum and palladium prices rose by more than 20 percent in a month.
The survey said the two commodities also benefited from the fact that President Donald Trump was able to end his predecessor’s trade policies.
But the industry has been suffering from a recent downturn in gold and pallium prices.
President Donald Trump’s economic policy is causing gold and metal prices to slide.
A report released in March showed that gold and copper prices fell for a fourth consecutive month and silver slipped by over 7 percent in June.
Gold and pallum prices are down more than 3 percent in 2018 and 7 percent since the beginning of 2018.