January 12, 2022 1 min read
Precious Metals Prices Poised to Rise in 2022
BY PATRICK A. HELLER,JAN 6, 2022
Last week I detailed how the prices of gold and silver in 2021 not only did not exceed the percentage increases that they experienced in 2020, but actually fell over the course of the year. Similarly, where I expected the price of platinum to end 2021 higher than it did at the end of the year before, its price also declined. Palladium’s price, as I expected, declined over the course of last year.
Before I move on to discuss what may happen in 2022, I think it makes sense to put 2021’s precious metals price moves into a greater perspective. Instead of looking only at the one-year results, it probably makes more sense to do a two-year analysis, so that you use a starting point before the onset of the COVID pandemic.
As this was being written on Dec. 29, shortly before the COMEX settled for the day, the spot price of gold jumped 18.7 percent from the Dec. 31, 2019, close. Over the same time period, silver rose 27.8 percent; platinum was virtually unchanged, down just 0.1 percent; and palladium was up 3.5 percent. Although gold and silver prices did not match the increases in major U.S. stock indices over the stretch (Dow Jones Industrial Average gained 27 percent, the Russell 2000 climbed 35 percent, the Standard & Poors 500 rose 48 percent and the NASDAQ soared 75 percent), those were still respectable results.
The original article can be found at https://www.numismaticnews.net/coin-market/precious-metals-prices-poised-to-rise-in-2022