Thursday, March 4, 2021
  • CCPA – California Consumer Privacy Act
  • Terms of Use
  • DMCA
  • Privacy Policy
  • Cookie Policy
  • About
  • Contact
Gold Investment
No Result
View All Result
  • Home
  • Gold
    • Gold Jewelry
    • Gold bar
    • Foreign Gold Coins
  • Platinum
    • Platinum Bars
    • Platinum Coins
  • Silver
    • Foreign Silver Coins
    • Silver Jewelry
    • Silver Bars
  • About
    • Cookie Policy
    • Privacy Policy
    • CCPA – California Consumer Privacy Act
    • DMCA
    • Terms of Use
  • Contact
  • Home
  • Gold
    • Gold Jewelry
    • Gold bar
    • Foreign Gold Coins
  • Platinum
    • Platinum Bars
    • Platinum Coins
  • Silver
    • Foreign Silver Coins
    • Silver Jewelry
    • Silver Bars
  • About
    • Cookie Policy
    • Privacy Policy
    • CCPA – California Consumer Privacy Act
    • DMCA
    • Terms of Use
  • Contact
No Result
View All Result
Gold Investment
Home Silver Silver Jewelry

Gold posts biggest premium ever over platinum – Commerzbank

Gold Investment Experts by Gold Investment Experts
in Silver Jewelry
3 min read
0
Gold posts biggest premium ever over platinum – Commerzbank
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter


Gold posts biggest premium ever over platinum - Commerzbank 1(Kitco News) – Gold prices have posted their greatest premium over platinum ever because the yellow steel advantages from decrease rates of interest amid the coronavirus outbreak, stated Commerzbank Friday whereas climbing its gold forecast.

The central banks of the U.S., Australia and Canada all lower rates of interest this week in an try to go off financial injury brought on by the outbreak of the virus world wide. That boosted gold because it lowers the so-called “alternative price,” or misplaced curiosity earnings by holding a non-yielding asset equivalent to a treasured steel as a substitute.

“Additional interest-rate cuts by the Fed and different central banks are prone to observe,” stated the Commerzbank report, written by Carsten Fritsch. “We’re subsequently revising our gold worth forecast upwards and now count on $1,650 per troy ounce on the finish of the yr (beforehand $1,550).”

The year-end forecast is however decrease than present costs, with Commerzbank commenting that the affect of the coronavirus “will lower considerably within the second quarter and that the markets will settle down accordingly.”

In the meantime, different treasured metals like silver and platinum haven’t saved tempo with gold, so Commerzbank didn’t alter its forecasts for these. In actual fact, the value of platinum slumped to $850 on the finish of February, its lowest degree since August 2019.

Additional, platinum’s worth low cost to gold has hit a record-high of round $790 an ounce, Commerzbank identified. As of 9:10 a.m. EST, spot gold was buying and selling at $1,679.10 an oz. after pulling again from the session excessive of $1,689, whereas platinum was at $895.65.

“The worth weak spot of silver and platinum is as a result of ample provide state of affairs,” Commerzbank stated. “Each silver and platinum have proven provide surpluses for years.”

“One other issue weighing on silver and platinum is the nice significance of business and jewellery demand. The unfold of coronavirus has additional elevated demand considerations. It’s not anticipated that funding demand will step into the breach because it did final yr.”

Commerzbank reiterated its forecasts for silver to commerce at $18.50 per ounce at year-end and platinum at $950 per ounce.

In the meantime, early Friday, gold was nonetheless benefiting from safe-haven demand, with bond yields tumbling and international equities remaining on the defensive.

“The explanation for the value soar from mid-February was the speedy unfold of coronavirus to increasingly more nations outdoors China, notably South Korea and Italy,” Commerzbank stated. “In consequence, fairness markets world wide got here below robust promoting strain. The volatility index of the S&P 500 recorded the strongest improve in two years.”

As bond yields fell, the worldwide quantity of bonds with a detrimental nominal yield elevated considerably, the financial institution stated. “At $14.6 trillion, it just lately reached the highest degree since October 2019.”

Holdings of gold by exchange-traded funds have already risen by greater than 100 metric tons because the starting of the yr and are actually at a file degree of almost 2,650 tons, the financial institution stated.



Disclaimer: The views expressed on this article are these of the writer and will not mirror these of Kitco Metals Inc. The writer has made each effort to make sure accuracy of knowledge offered; nevertheless, neither Kitco Metals Inc. nor the writer can assure such accuracy. This text is strictly for informational functions solely. It’s not a solicitation to make any change in commodities, securities or different monetary devices. Kitco Metals Inc. and the writer of this text don’t settle for culpability for losses and/ or damages arising from using this publication.

Related posts

Rose Quartz Ring Market Size 2020 By Global Business Trends, Share, Future Demand, Leading Players Updates and Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread) – Owned

Impact Of Covid 19 On Precious Metals Market 2020 Industry Challenges, Business Overview And Forecast Research Study 2026 – NeighborWebSJ

Yellow Metal Prices Fall to Rs 47,960 Per 10 gm, Silver at Rs 69,800 Per kg

Yellow Metal Prices Fall to Rs 47,960 Per 10 gm, Silver at Rs 69,800 Per kg



Source link

Previous Post

Gold Prices See Normal Corrective Pullback

Next Post

Global Silver Jewelry Market 2020 -Cartier, Van Cleef and Arpels, Buccellati

Next Post
Global Silver Jewelry Market 2020 -Cartier, Van Cleef and Arpels, Buccellati

Global Silver Jewelry Market 2020 -Cartier, Van Cleef and Arpels, Buccellati

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Investing in Precious Metals – Everything You Need to Know

Investing in Precious Metals – Everything You Need to Know

Gold Prices Retreat To Touch Rs 47,920 Per 10 Gram, Silver Rates Slip To 48,311 Per Kg

Gold Prices Retreat To Touch Rs 47,920 Per 10 Gram, Silver Rates Slip To 48,311 Per Kg

Nepal – Gold Price Today | Gold Rate History

Nepal – Gold Price Today | Gold Rate History

Apple MacBook Pro 13-Inch (M1, Late 2020) – Review 2020

Apple MacBook Pro 13-Inch (M1, Late 2020) – Review 2020

BROWSE BY CATEGORIES

  • Foreign Gold Coins
  • Foreign Silver Coins
  • Gold bar
  • Gold Jewelry
  • Platinum Bars
  • Platinum Coins
  • Silver Bars
  • Silver Jewelry

POPULAR NEWS

  • Miles Standish Designs Miss Liberty Silver Bullion Coins

    Miles Standish Designs Miss Liberty Silver Bullion Coins

    12 shares
    Share 5 Tweet 3
  • Palladium Surges above $2,400. Is It Sustainable?

    4 shares
    Share 2 Tweet 1
  • Bought Out? Why Shopping for Gold All of the sudden Obtained So Exhausting

    4 shares
    Share 2 Tweet 1
  • Gold positive factors safe-haven luster as jobless claims contact document

    3 shares
    Share 1 Tweet 1
  • Gold-Backed Cryptocurrencies Develop Premiums as Gold Demand Soars

    3 shares
    Share 1 Tweet 1
  • Concerns rise over fake gold in Saudi Arabia

    2 shares
    Share 1 Tweet 1
Gold Investment Portal

Follow us on social media:

  • Home
  • Gold
    • Gold Jewelry
    • Gold bar
    • Foreign Gold Coins
  • Platinum
    • Platinum Bars
    • Platinum Coins
  • Silver
    • Foreign Silver Coins
    • Silver Jewelry
    • Silver Bars
  • About
    • Cookie Policy
    • Privacy Policy
    • CCPA – California Consumer Privacy Act
    • DMCA
    • Terms of Use
  • Contact

Recent Posts

  • RIP gold. Killed by Bitcoin
  • Precious metals prices will see double-digit gains in 2021; silver to steal the show – LBMA price forecast

Recent News

RIP gold. Killed by Bitcoin

RIP gold. Killed by Bitcoin

Precious metals prices will see double-digit gains in 2021; silver to steal the show – LBMA price forecast

Precious metals prices will see double-digit gains in 2021; silver to steal the show – LBMA price forecast

  • CCPA – California Consumer Privacy Act
  • Terms of Use
  • DMCA
  • Privacy Policy
  • Cookie Policy
  • About
  • Contact

Copyright © 2020 Gold Investment. All Rights Reserved.

No Result
View All Result
  • Home
  • Gold
    • Gold bar
    • Foreign Gold Coins
    • Gold Jewelry
  • Platinum
    • Platinum Bars
    • Platinum Coins
  • Silver
    • Silver Bars
    • Silver Jewelry
    • Foreign Silver Coins
  • About
  • Contact
  • Terms of Use
    • Privacy Policy
    • Cookie Policy
    • CCPA – California Consumer Privacy Act
    • DMCA

Copyright © 2020 Gold Investment. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

Non-necessary

Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.