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Gold remains the anchor of the commodity markets

“Precious metals have been the leader, with gold up 92% and silver more than doubling (+152%) since the start of 2025,” Moglia said. “Gold has been supported by persistent central bank purchases which accelerated starting in 2022 following the sanction of Russian foreign exchange reserves. However, 2025 marked an inflection point in the precious metals rally, as speculative momentum flows surged ...

PGMs

After a strong start to the year, Platinum Group Metals (PGMs) have been stuck in a range for the last few months, but according to one research firm, prices across the entire sector are still expected to end the year with solid gains, led by Platinum.

(a) Integration schematic of an n-TSV in BSPDN architecture; (b) high-AR n-TSV array configuration; (c) calculated thermal stress mappings in n-TSVs with (i) vertical and (ii) tapered sidewalls. Contour scale: 0–500 MPa. BPR: buried power rail.

A research team has developed an integrated process combining pure ruthenium-based nano through-silicon via fabrication and extreme all-dry thinning of silicon-on-insulator wafers to support backside power-delivery networks for advanced three-dimensional integrated circuits, according to a new study published in Engineering.

PGM Mining

Johnson Matthey notes in its latest 'PGM Market Report' that platinum demand will exceed supply again this year on the back of firm industrial use and constrained mine supply, while ruthenium and iridium are also expected to be in deficit amid rising demand from the data storage and energy transition sectors.

Silver climbs through $80/toz

Despite the ongoing threat to the global economy posed by the war in Iran, the silver market is attracting renewed investor attention as prices push back above $80 an ounce, with growing expectations that $90 is around the corner.

Silver

A new report from Metal Focus reveals that global silver market remains structurally tight, with elevated prices, a fifth consecutive annual supply deficit in 2025, and ongoing mine and recycling constraints despite modest production growth. At the same time, PV-driven silver demand is falling sharply due to cost pressure and thrifting.

Conventional recycling of CCMs (left) and HyRefine process (right)

In a new recycling process, developed by JM, PGMs are recovered from CCMs without incinerating the perfluorosulfonic acid-based ionomers on which the operation of PEM electrolyzers and fuel cells depend. In a complementary process, developed in parallel by Syensqo, the ionomers are extracted, purified and reconditioned for reuse.

Bull Vs Bear Markets

Opportunistic buyers are starting to emerge in the gold market after the biggest selloff in years, helping to keep bullion’s record-breaking three-year bull run intact.

Platinum

Platinum traded near $1,870 on Friday, March 27, after a sharp two-way session pulled the metal off its earlier low but stopped short of a clean recovery. Spot prices swung between about $1,817 and $1,915, leaving traders to weigh bargain buying against a still-firm U.S. dollar, rising Treasury yields and oil back above the $100 area.

Silver

Silver pulled back from its $88.80 session high on March 10 to around $80–81 as of this writing. If you're watching that number and feeling uncertain, I understand the impulse. A 9% decline in a week invites doubt.
But the pullback has a specific, identifiable cause: the US dollar strengthened sharply following the Warsh nomination and FOMC hold expectations. When the dollar strengthens, silver's ...

Palladium next demand sources researched via Artificial Intelligence

Russia’s MMC Norilsk Nickel PJSC is betting on artificial intelligence as part of a $100 million push to find additional uses for palladium as electric vehicles erode the metal’s main source of demand.

Ruthenium

Ruthenium prices have reached an all-time high, driven by surging demand from the AI boom, particularly in data storage and cloud computing. This surge is occurring amidst significant supply constraints, as ruthenium is a by-product of platinum-group metals mining, with South African production declining. Analysts predict a substantial deficit in the coming years.

Gold Market and Gold Mining

While precious metals investors might worry about depleting gold mines or massive new discoveries impacting supply, and the potential for collusion among gold miners to control prices, there are a number of very good reasons why none of these scenarios will actually come to pass, according to the World Gold Council (WGC).

Palladium

Few major commodities have displayed the kind of price volatility Palladium has since 2020. After a wild ride, boom and bust included, the price of the metal approaches a key area that will help determine its medium- and long-term outlook. Fasten your seatbelts.

ExxonMobil and BASF

Hydrogen is widely viewed as a key enabler of decarbonization, but not all hydrogen is created equal.

Semicondcutor

The global semiconductor market in 2025 was $792 billion, according to WSTS. 2025 was up 25.6% from 2024, the strongest growth since 26.2% in the COVID recovery year 2021, reports Semiconductor Intelligence.

Gold

Gold has yet to reflect the full impact of the ongoing geopolitical escalation surrounding Iran, and once the Fed’s easing rate path and the overall market’s rising demand are considered, prices are likely to gain an additional $1,000 per ounce by June, according to analysts at UBS.

PGMs

The European Union may ban the import of iridium, rhodium, platinum, and copper from Russia as part of new sanctions. The restrictions, if supported by member states, will affect GMK Norilsk Nickel.

The European Union is considering banning imports of several platinum group metals and copper from Russia as part of new sanctions targeting Moscow for its war against Ukraine, citing people ...

Gold, Silver, Platinum, Palladium, and Rhodium all dropped on Friday.

Gold futures dropped as low as $4,700/toz before recovering some of those losses in afternoon trade only to succumb again to some late selling. Gold for delivery in April, the most active contract, closed at $4,745/toz down 11.4% or $600/toz on the day. It was the biggest intra-day decline since the early 1980s.

Platinum

A Reuters poll of analysts and traders suggests platinum could average ~$1,550/Toz per troy ounce in 2026, significantly higher than earlier estimates after a strong rally in 2025.

Gold & Silver prices setting records

Now rising for a record 8th month in a row, the gold price in US Dollars has +18.1% since New Year's Eve.