After Golden Yr for Valuable Metals, Silver Set to Shine in 2021

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After a spectacular yr, valuable metals are set for further positive factors in 2021, with silver tipped to outperform, however analysts are rising more cautious concerning the prospects for gold as the worldwide financial system recovers from the impression of COVID-19. The pandemic triggered stockpiling by buyers trying to shield their wealth. This, alongside provide deficits, pushed gold and palladium prices up by more than 20 % in 2020, whereas silver rose 47 %, and platinum, 10 %. “We're going to see new document highs for gold and palladium (in 2021),” stated Philip Newman at consultants Metals Focus. “However silver will see the chunkiest features.” Traditionally seen as a protected place to retailer cash, gold started to rise as economic progress slowed in 2019, however the pandemic accelerated the rally, and in August, costs hit a report high of $2,072.50. Whereas demand for physical gold was hammered as the virus pressured ...