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Metals Minute 6: Gold and Silver Update

December 16, 2020826 view(s)

It has been another good week for the metals, with Gold up 1% to $1861. Silver had a monster week, up another 5% to $25.20. Platinum continued to climb, up 4.3% to $1049. Palladium more than made up for losses incurred last week, up 4.2% to $2373.

For the 1-yr performance numbers, Gold is up 26%, Silver is up 47%, Platinum is up 13%, and Palladium is up 20% from this time last year.

As we mentioned last week, it is time to begin thinking about projections for next year. We have an article being published in the next day or so right here at the US Gold Bureau, which will provide a specific forecast for all the precious metals. We expect another great year moving forward.

As a review, our projections from last year had Gold in the $1800’s for December 2020; it is currently at $1861. We projected Silver in the low $20’s; it is actually squarely in the mid $20’s, currently at $25.20. We forecasted a recession for 2020, and recommended profit-taking on Platinum and Palladium at the end of 2019. The recession began in February 2020, and a great re-entry point was in April, for a strong finish this year with Platinum and Palladium.

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