• Home
  • Contact Us
  • Privacy & Policy
Saturday, May 21, 2022
Finances Advise
No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading
No Result
View All Result
Finances Advise
No Result
View All Result
Home Commodities

Silver and platinum will outperform gold in 2021 as the economy recovers and industrial demand supports higher metals prices, says UBS

by admin
March 23, 2021
in Commodities
0
153
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter


  • UBS Global Wealth Management strategists said silver and platinum will outperform gold in 2021 as the economy recovers and industrial demand picks up.
  • A greater focus from policymakers on renewable energy and decarbonization in 2021 may also help silver. According to UBS, more than 50% of silver used in industrial applications is linked to solar panels and electronics.
  • Meanwhile, gold will struggle to attract sufficient exchange-traded fund inflows to sustain prices north of $US1,900, said UBS.
  • The firm sees the asset finishing the year 2.5% below current levels, at $US1,800 per ounce.
  • Sign up here our daily newsletter, 10 Things Before the Opening Bell .

2020 was one of the best years on record for gold, as investors piled into the safe-haven asset amid geopolitical and economic uncertainty. The precious metal even hit a record high of $US2,075 on August 7, 202.

But UBS Global Wealth Management strategists don’t see gold repeating its stellar performance in 2021. Instead, the firm sees other metals— including silver and platinum — outperforming gold during the year ahead.

As the economy improves in 2021, industrial demand will support silver and platinum group metal prices, said UBS. The strategists expect silver prices to reach $US30 per ounce by the end of the first quarter and eventually level off to $US27 per ounce by the end of 2021. Silver is currently trading around $US25 per ounce.

Platinum will rise to USD 1,250/oz by the end of 2021, a 16% upside from Tuesday’s price, UBS forecasted. The firm also said palladium could also hit $US2,900 per ounce in 2021, roughly 21% above current levels.


Read more:
A leading Wall Street firm asked 7 famous investors about their favourite stocks and the global trades they’re using to stay ahead of the competition. Here’s what they’re betting on now.

A greater focus from policymakers on renewable energy and decarbonization in 2021 may also help silver. According to UBS, more than 50% of silver used in industrial applications is linked to solar panels and electronics.

Meanwhile, gold will struggle to attract sufficient ETF inflows to sustain prices north of $US1,900, said UBS. The firm sees the asset finishing the year 2.5% lower than current levels, at $US1,800 per ounce.

UBS added that ongoing dollar weakness and low real interest rates will keep all precious metals prices elevated in the first quarter of 2021. However, gold will then weaken in the second quarter as the macroeconomic backdrop improves and the Federal Reserve signals it will gradually taper its bond-buying pace.

“We advise investors with an elevated risk appetite to be long platinum and palladium. We also like precious metals for yield pick-up opportunities,” the analysts wrote.


Read more:
Julian Klymochko wakes up at 4:30 a.m. to manage an ETF that seeks to profit from the SPAC boom. The investing chief breaks down how the strategy works, and shares 2 new SPACs on his radar

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.



Tags: demandEconomygoldhigherindustrialmetalsoutperformplatinumpricesrecoversSilversupportsUBS

Recent News

‘We’re sorry’ for U.S. baby formula scarcity, Abbott CEO Ford says in Washington Post op-ed

May 21, 2022
Factors that influence exchange rates in the forex market

Factors that influence exchange rates in the forex market

May 21, 2022

Categories

  • Bitcoin
  • Block chain
  • Business
  • Commodities
  • Ethereum
  • Financial Advisors
  • Forex
  • Investing
  • Litecoin
  • Market Insider
  • Personal Finance
  • Stocks

Site Navigation

  • Home
  • Contact Us
  • Privacy & Policy

We bring the Best and latest Crypto News

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

No Result
View All Result
  • Home
  • Business
  • Commodities
  • Crypto News
    • Block chain
    • Bitcoin
    • Ethereum
    • Litecoin
  • Finance
    • Financial Advisors
    • Personal Finance
    • Market Insider
  • Forex
  • Investing
  • Stocks
  • ICOs
  • Trading

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.