Precious Metals Report 2021 - Updates
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Precious metals investors are still in pole position, precious metals have so far come through the Covid 19 crisis the best of all asset classes. It sounds like a cliché, but gold is again in demand as a "safe haven", as massive inflows into ETFs and sold-out bullion traders impressively prove.
In August 2020, the gold price reached a new all-time high of more than US$2,060, which was mainly the result of (impending) fiscal and geopolitical upheavals and a certain desire for security. In most currencies gold was trading at absolute all-time highs in 2020, which will continue in view of rampant money printing orgies of central banks worldwide. In 2021, the fear of an already emerging, escalating inflation will drive more people into gold again, as the number one store of value for thousands of years, and is likely to drive the price up again accordingly.
Palladium, which was driven to new record highs of over US$2,800 per ounce in recent months mainly for speculative reasons, also suffered only a brief dip and appears to be continuing its record chase. Demand from the automotive sector (use in gasoline catalytic converters) plays a major role here. But also the steadily declining production, as the existing supply deficit recently confirmed impressively.
Until a few months ago, the situation for platinum was the opposite. The increasing discrediting of the diesel engine as a "dirty engine" led to a decline in demand for platinum, which is used in diesel catalytic converters. Since the third quarter of 2020, however, there have been signs of a renaissance. The biggest demand driver in the coming years will be the substitution of palladium, which is now more than twice as expensive, by platinum. The supply deficit, which has already existed since 2019, widened even further in 2020 and is likely to lead to a further speculative increase in the platinum price.
This report provides a wealth of information on the precious metals sector and offers insightful interviews with exclusively selected experts from the industry. The presentation of a number of interesting companies that are suitable for speculation on rising precious metal prices completes the report.