ONLINE FOREX BROKER
2021-03-09 • Updated
Throughout 2020, we kept our eyes on the performance of the gold. The question “What is going on with gold?” was among the most popular ones in FBS social media. There were quite obvious reasons for that popularity, which we observed earlier. At the same time, traders seem to forget about other important elements of the metals market. They are platinum, silver, and palladium.
According to the senior analytical agencies, the trio will likely outperform the gold due to the rising industrial demand. They also see the election of the Democratic candidate Joe Biden as a positive sign for the metals. The expected tighter environmental regulation by Biden’s administration is a top reason for analysts’ beliefs.
UBS sees silver at $30, platinum at $1 250, and palladium at $2 900 this year. As you can see on the chart below, while palladium and silver are forecast to reach the last year’s high, platinum is set to reach the peak of 2015.
As for TD securities, it is more bullish on palladium compared to platinum. According to the company, palladium will be pushed to $3 000 by the end of 2021. Meanwhile, the price of platinum is expected to average around $1 000. TD analysts see gold and silver strengthening during 2021. While the yellow metal is set at $2 050 by the end of the year, silver is projected at $30.
Check the performance of your favorite metal here and log into your personal area!
The past two years have seen the biggest swings in oil prices in 14 years, which have baffled markets, investors, and traders due to geopolitical tensions and the shift towards clean energy.
After months of pressure from the White House, Saudi Arabia relented and agreed with other OPEC+ members to increase production.
What is going on with this energy asset these days, and should we prepare for further falls?
Get ready for some suspense as the Bank of Canada faces a tough decision on whether to raise interest rates or keep them on hold. The resilient Canadian economy and the goal of curbing inflation further are at the heart of this dilemma. While some money markets and economists predict another rate hike, others believe the central bank should exercise caution and wait, hinting at a possible increase later in the summer.
Let's take a closer look at Australia's recent economic performance. Brace yourselves for some interesting developments. The country's economy experienced its slowest growth since late 2021 in the first quarter, raising doubts about the Reserve Bank of Australia's rapid interest rate increases. Despite the bank's record-breaking 12 rate hikes in the last 13 months, the resource-rich economy only grew by a modest 0.2% in the quarter, falling short of economists' expectations.
Let's dive into the latest developments shaping the global economic landscape. Good news first: the threat of an unprecedented US debt crisis has receded, as US lawmakers passed a bill to raise the debt ceiling and avoid a catastrophic default. Phew! But don't pop the champagne just yet, because storm clouds are still looming. High inflation, rising interest rates, and sluggish growth are challenges that have yet to disappear.
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