BMO – Precious Metals Monitor: Gold Sailing Towards a Four-Handle, Oct 2025
The main theme is the analysis of current trends in the precious metals market, including gold, silver, platinum, and palladium, amid economic uncertainty caused by the US government shutdown and concerns about debt and fiat currency value.
Key findings include the rise in gold prices reaching $3,950 per ounce due to the US government shutdown and demand for safe-haven assets, significant increases in silver and platinum prices, and palladium stability. There is an increase in inflows into gold and silver ETFs, especially from China and Europe. Expectations of a platinum market deficit until 2029, while the palladium market may shift to surplus. Threats to industrial use of silver due to high prices and potential substitution in solar energy.
