Gold Drops, Platinum Becomes Precious Metal with the Best Performance in Q1-2021 Page all

JAKARTA, KOMPAS.com – Platinum became a precious metal commodity with the best performance throughout the first quarter of 2021.

Refers to Bloomberg, in the period January to March 2021, prices platinum The spot managed to gain 10.76 percent after closing at the level of 1,305.33 US dollars per troi ounce on 31 March.

Quoted from Kontan.co.idThis performance far outperformed other precious metal commodities, such as palladium which only gained 7.30 percent.

Also read: Antam to Release Precious Metal Products for Chinese New Year 2021 Edition

Meanwhile, silver was corrected by 7.52 percent and gold also subsided by 10.04 percent.

It also made gold the worst performing precious metal commodity in the first quarter of this year.

Traderindo.com Founder Wahyu Tribowo Laksono said, precious metals such as platinum and palladium naturally strengthen in the first three months of 2021.

This is in line with the global economic recovery so that demand is also increasing.

“In addition, various stimuli introduced by the central bank have also boosted the performance of precious metals. However, these various stimuli actually did not benefit the condition of gold and silver, ”he said when contacted Kontan.co.id, Saturday (3/4/2021).

Also read: Farid Andika Stumbles On Cowboy Duren Sawit Case, Restock.id Changes CEO

Wahyu added that gold and silver have been underperforming after financial market conditions were pressured by the increase in US Treasury yields.

In fact, at a time when the inflation outlook is expected to rise more quickly, market players are also relatively optimistic that the Federal Reserve can solve the problem.

On the one hand, when the market feels that it has to look at safe havens, it is the United States dollar (US) that it looks for.

Wahyu said, at this time the greenback indeed become the main choice of investors.

Inevitably, gold’s performance is getting depressed, as well as silver.

Also read: Looking at the Cake Business Opportunities in the Month of Ramadan and Eid

In the future, Wahyu believes that the potential for strengthening precious metal commodities is relatively limited.

In the second quarter of 2021, financial markets will be determined by the movement of the US dollar.

When the US dollar strengthened, the price of precious metal commodities was limited.

“The strengthening of the US dollar will ultimately threaten the reflationary trade because after all the US dollar becomes the opponent of commodity price movements. So there is an opportunity to increase it, but it is very vulnerable to correction,” Wahyu added.

However, until the end of the year, Wahyu estimates that the price of palladium can still rise with a price range of 2,200-3,000 US dollars per troi ounce.

Also read: Check out the details of Antam’s gold price today

Meanwhile, for platinum, it tends to increase in a consolidated manner with a range of 800-1,500 US dollars per troi ounce.

As for gold and silver, Wahyu assessed that it might weaken in the rest of this year.

The price of gold is expected to be in the range of 1,500-1,800 US dollars per troi ounce.

Then silver is in the range of 21-28 US dollars per ounce troy.

– .