In one year, the price of gold has increased by about a thousand euros. But now the fever for the precious metal has also infected two reserve protagonists: silver and platinum. Anyone who wants to buy jewelry in the coming months will have to take into account that prices will have increased, and by a lot. The reasons for the increases are always the same: the wars with weapons in Ukraine and the Middle East and the trade wars triggered by the White House. Two factors that have convinced central banks and private investors to grab what are defined as safe-haven assets. Gold today constitutes about 20% of central bank reserves, while the euro stops at 16%.
This is also why the yellow metal has reached the absolute record (and not predicted by anyone) of 3,500 dollars an ounce, while last year it was above 2,000 dollars. But now gold is no longer alone: since the beginning of the year, platinum prices have risen by 40%, against 29% of the yellow metal. And the World Platinum Investment Council has predicted that in 2025, demand for platinum will once again be much higher than supply, for the third consecutive year. In parallel with platinum, the cost of palladium has also increased, reaching a record high in over four years at $1,286.74 per ounce. Palladium, which is part of the platinum family, is also used in jewelry. And that’s not all: silver, considered a much more available and therefore less precious metal, has also started to run, with a rise of 25% since the beginning of the year.
