Precious Metals Prices

Precious metal prices decreased 1.8% month on month in November, following October’s 4.9% rise.

Precious metal prices shaved off some of the prior month’s gains in November, as Trump’s election victory in the U.S. drove markets to temper their expectations for Fed monetary easing in 2025. Moreover, a stronger greenback and higher U.S. treasury bill yields in November vs October dented investor appetites. Meanwhile, safe-haven demand felt the pinch of the Israel-Hezbollah ceasefire, though it was supported by an escalation in the Russia-Ukraine war. Weaker global vehicle demand exerted additional downward pressure on platinum and palladium. Meanwhile, rising market bets for additional stimulus measures in top consumer China capped the decline in silver and palladium prices, and healthy festivity-related demand in India prevented a sharper fall in gold prices.