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Heraeus expects gold and silver to return to the major trading scene
Heraeus Metal Management publishes precious metals forecast for the first half of 2016(PresseBox) ( Hanau, )
Heraeus precious metal trading experts are cautiously optimistic about developments in the price of gold: The dollar traditionally exerts the strongest influence on gold, and this of course also applies to the price of the precious metal. Granted, temporary price dips could spin the price below the magic mark of $1,000/oz. “Nevertheless, the bulk of the price corrections should now lie behind us,” says Hans-Guenter Ritter, head of precious metals trading at Heraeus. “For the first half of 2016, we expect trading to range between $970 and $1,250/oz.”
The outlook is better for silver, which will again perform stronger than gold. Lively demand from industry and the jewelry business, accompanied by stagnating mine production, will yield a better showing for silver than for gold. In the first half of the year, Heraeus Precious Metals Trading expects the silver price to range between $12.50/oz and $17/oz, on average $15.25/oz.
The forecast for platinum is less optimistic: Following platinum’s record low in 2015, Heraeus Metal Management anticipates that prices will remain low despite possible impetus from industry. “For the first half of 2016, we expect platinum to range between $750 and $1,025/oz, an average of $890/oz,” according to Hans-Guenter Ritter.
The price of palladium is likewise awaiting fresh momentum. For 2016, trading is expected to range from a low of $450/oz to a high of $650/oz, with an average of $550/oz.
Further details and information regarding the precious metals rhodium, ruthenium and iridium are provided in the extended version of the latest precious metals forecast from Heraeus Metal Management, which is published at the start of each half year.
Heraeus Metal Management is the precious metal trading and recycling unit of Heraeus. It provides customers with integrated precious metal solutions, combining precious metal solutions from Heraeus with comprehensive precious metal services. With trading offices in New York, Hong Kong, Shanghai and Hanau, Heraeus Metal Management is active in every relevant time zone around the world. With its longstanding experience, it is among the leading names in international precious metals trading and a reliable partner for integrated precious metals management offering leading compliance standards, transparency and financial stability.
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