via metal minor
once again, World Precious Metals MMI (Monthly Metals Index) Failed to show strong bearish or bullish pressure. The index remained flat throughout February, with a decline of only 0.65%. Nevertheless, some bullish pressure penetrated into precious metal prices in early March, when many precious metals started to rise. Gold prices in particular soared as the DXY (US dollar index) fell.
For now, precious metals investors should remain cautious in purchasing precious metals as these market gains may cool down.
Precious metal price: palladium
The palladium market showed further bullish momentum. However, prices have not formed further highs in the short term. Over the past month, palladium prices have moved into more bullish pressure, forming lows and now prices are above $1,000 per ounce, above the first quarter highs.
Platinum price is on the rise
Like other precious metals, bullish momentum in the platinum market has pushed prices out of short-term ranges, pushing them further higher in the last month.
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That said, the market is still in a long-term sideways trend, so prices will need to maintain bullish momentum for a bullish outlook to emerge.
Precious Metal Price: Silver
The silver market appears to have turned bullish this month as it forms new highs. After reaching further lows, the silver market continued its upward trend towards the $25/oz level.
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However, while bullish momentum will continue to drive prices into an uptrend, volatility will remain.
gold price rise
gold price Before It appeared to be trading within a range after peaking in late 2023. This month, prices reached new highs, ultimately exceeding $2,150/oz. This caused the market as a whole to turn bullish again. In fact, gold continues to reach new highs and prices continue to rise. However, prices remain at historically high levels; volatility That’s to be expected.
Source:TD
By MetalMiner Team
