Precious metal price rises to continue – Fitch Solutions
R firm Fitch Solutions expects rises in precious metals prices to last longer than previously expected, driven by various factors.
In a statement published on Monday, the firm said higher prices mainly reflected the dovishness of global central banks and continued fears of recession, two trends Fitch expected would remain in place.
Despite rising recession fears, Fitch noted that movements in the prices of precious metals used for industrial purposes, such as silver, rhodium and platinum, could be pointing to a rebound in global economic activity.
However, it was not bullish on this, stating that the recent rally could be driven by sector specifics, as rhodium and platinum were heavily used in the making of catalytic converters and new auto emission control regulations were currently being adopted across the globe.