Whereas we have now left our Gold value forecast unchanged, we’re revising our forecasts for Silver, Platinum, and Palladium upward, Commerzbank’s commodity analyst Carsten Fritsch notes.
Silver and Platinum are prone to comply with Gold
“We count on the value of Silver to achieve $39 per troy ounce by the tip of the yr (beforehand $37), the value of Platinum to achieve $1,350 per troy ounce (beforehand $1,250) and the value of Palladium to achieve $1,200 ($1,100).”
“We due to this fact think about nearly all of the latest value enhance for the three valuable metals to be sustainable, because it has decreased the beforehand important undervaluation relative to Gold. The Gold/Silver ratio stands at 86, solely barely above its long-term common. The identical will be stated concerning the value ratio between Gold and Platinum.”
“Any longer, Silver and Platinum costs are prone to transfer largely consistent with the value of Gold. Palladium costs are prone to carry out considerably weaker as a result of much less beneficial fundamentals.”
