PGM prices in 2025 are supportive of recycled supply growth (Figure 1). However, platinum automotive recycling supply is not expected to recover to the peak level reported in 2021, and we expect this to contribute to sustained platinum market deficits through 2029.
Silver reached the $50-an-ounce level for the first time in decades on Thursday as surging demand for safe-haven assets led to a squeeze on the already-tightened London bullion market.
Commerzbank has updated its forecast for Palladium, anticipating it will reach $1,350 per troy ounce by the end of 2026. Previously, the price forecast was set at $1,300, but no further price increases are expected next year.
Gold breached $4,000 per ounce for the first time on Wednesday, propelled by investor appetite for security amid escalating economic and geopolitical tensions and anticipated US Federal Reserve interest rate reductions, said Reuters.
After spending nearly a decade range-trading between $600 and $1,250 per troy ounce, platinum prices have risen nearly 50% so far in 2025. Platinum’s advance isn’t happening in isolation, but rather in tandem with gold having its best year since 1979 and the price of silver approaching a record high
The US Geological Survey's 2025 draft list proposes adding silver as a critical mineral for the first time, reframing its role from a precious hedge to a strategic industrial asset. If finalized later this year, the designation would unlock stockpiling, permitting support, and potential tax incentives, shifting long-term supply-demand dynamics.
Recent modifications to the NYMEX/COMEX fee schedule for precious metals futures, effective July 14, 2025. The 900% jump in the delivery notice fee – from $1 to $10 per contract – imposes an unjust and exclusive burden on the precious metals market, which is the only contract market singled out by this increase.
Gold has a very good chance of reaching $4,000 per ounce in short order as China and other emerging market central banks will need to buy millions more ounces to reach the reserve ratios of leading developed nations, according to Bart Melek, managing director and global head of commodity strategy at TD Securities.
Gold prices extended their extraordinary gains, with bullion prices surpassing their inflation-adjusted record set more than 4 decades ago. Spot gold prices rose 0.1% on the session to $3,656.40 an ounce, topping the inflation-adjusted record of $3,498.77 an ounce established in 1980.
A number of precious metal HTSUS codes were added to Annex 2 (tariff-free regardless of origin). A new Annex 3 introduces conditional exemptions tied to reciprocal trade agreements.
Silver leads global assets in 2025, surging 40% on bets of a Fed cut, tight supply, and geopolitical tensions. Experts expect US retail demand to slow down, with a tug-of-war between profit takers and trend followers.
SURPRISINGLY, one of the best-performing metal this year is not gold but ruthenium. This is especially relevant for South Africa as it will supply 71% of global primary ruthenium in 2025, according to Johnson Matthey, a global leader in sustainable technologies.
TANAKA Holds Press Conference to Commemorate Its 140th Anniversary Group CEO Koichiro Tanaka and Other Speakers Share TANAKA's Future Outlook and Diverse Range of Products and Solutions also Exhibited
One-kilo bars are the most common form of gold traded on Comex, the world’s largest gold futures market, with a majority coming from Switzerland, the world’s largest gold refiner and a major gold exporter to the U.S. that now faces U.S. tariffs of 39%.
“When a market tightens like this — whether it’s for good reasons, bad reasons, idiosyncratic reasons — it should pull material out of the shadows,” said Jay Tatum, who runs a metals fund at commodities-focused Valent Asset Management and has been bullish on platinum for about two years. Lease rates suggest the “acute tightness” isn’t over, he said.
The platinum price rally during the first half of 2025 has helped most mines recover from loss-making positions but the industry is still far from adding new production, Valterra Platinum CEO Craig Miller said on Monda
Johannesburg, South Africa-based precious metals mining and production firm Sibanye-Stillwater Group says it has entered into a purchase agreement to acquire Metallix Refining Inc., Shrewsbury, New Jersey, for $82 million.
SIBANYE-Stillwater announced on Monday it agreed to buy US-based precious metals recycling business Metallix Refining for $82m (R1.5bn) in cash. Metallix Refining, a profitable company in business for 60 years, would complement Sibanye-Stillwater’s Reldan which it acquired last year for $155.9m.
