In the show “Bloomberg Commodities Edge”, moderator Alix Steel recently spoke to Suki Cooper, precious metals analyst at Standard Chartered, about their current assessment of the precious metals gold, palladium and silver.
According to the expert, some macro factors suggest that the gold price will continue to rise. For example, expected further declines in yields on US government bonds. Standard Chartered had previously assumed a high for gold at USD 1,700, but this level could now be surpassed. Temporary setbacks from sales could, however, be used as buying opportunities.
Regarding palladium, the analyst also sees further upside potential despite temporarily weaker demand from China. The market deficit is estimated at over 1 million ounces this year, and she believes this tense supply situation will continue next year.
Cooper does not, however, give an exact price forecast.The analyst predicts a higher investment interest for silver, which will not come close to that of gold. Gold has benefited less from the recent safe haven demand than the yellow metal, as industrial demand has recently been somewhat lower.