15.06.2025 12:10
The price of platinum reached its highest level in four years at $1,308 in international markets, while it has increased by over 40% since the beginning of the year, making it the most valuable product among precious metals, including gold, silver, and palladium.
Precious metals gained value during the completed week due to the lower-than-expected inflation data in the U.S. and the increased demand for safe havens caused by rising geopolitical tensions in the Middle East, except for palladium.
The price of gold per ounce increased to $3,433 due to safe haven demand, while the price of platinum per ounce reached $1,308 in international markets, marking the highest level in four years.
HIGHEST LEVEL SINCE FEBRUARY 2021
The price of platinum per ounce saw its highest level since February 2021, increasing by over 40% since the beginning of the year, making it the most valuable precious metal. Gold rose by 30%, silver by 25%, and palladium increased by over 16%. While the supply shortage in platinum and rising demand support prices, uncertainty regarding Trump's tariff plans and geopolitical tensions continue to increase interest in precious metals.
Although palladium prices gained value in the first half of the year, they continued to remain below the October 2024 peak. Analysts noted that palladium demand is largely dependent on gasoline vehicles and that the transition to electric vehicles has limited price increases, stating that palladium has lagged behind alternatives like platinum due to weak demand. With these developments, all precious metals experienced a loss in value, while prices per ounce increased by 5% in platinum, 3.4% in gold, and 0.9% in silver, while palladium lost 1.9% in value.
CHINA CONCERNS AND U.S. DATA AFFECTED PRICING
Base metals were supported by positive macroeconomic data from the U.S. during the completed week, while recession expectations and concerns about Chinese demand had an impact on pricing.
China's weak import and industrial data negatively affected the demand outlook, especially for base metals, while the ongoing trade war led by the U.S. caused some metals to shift their direction towards the U.S., increasing pressure on prices. Additionally, news regarding Trump's plans to increase metal import tariffs continues to be a focus for investors.
With these developments, in the over-the-counter market for base metals this week, prices decreased by 1.6% for copper, 1% for zinc, and 1.9% for nickel, while increasing by 0.2% for lead and 1% for aluminum.