Precious Metals Prices

Precious metal prices increased 8.7% month on month in August, following July’s 4.7% fall.

For the first time in seven months, average prices rose for all precious metals in the complex in August. On aggregate, the increase was the sharpest since January and the first since February. Expanded U.S. Treasury bond buybacks pushed down U.S. yields and the dollar, while also reviving concerns over rising debt and fiscal deficits. Solid industrial demand and tight supply likely added further support to silver, platinum and palladium. Still, some gains were pared back late in the month, as hawkish Fed signals and renewed tensions in the Strait of Hormuz stoked inflation concerns and lifted expectations for a September rate hike.