from the editorial office of uro on Sunday
In addition to gold, many precious metal dealers also offer silver, platinum and palladium in their range. You can buy them physically or benefit from rising prices for the precious metals with the help of so-called Exchange Traded Commodities, ETCs for short.
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Unlike gold, silver, platinum and palladium are more commonly used in industrial applications. This means that the prices of these precious metals are more dependent on the state of the economy or the well-being of certain sectors. Those who are primarily concerned with protection against high inflation or against upheavals in the financial system should rather stick with gold.
Silver plays an important role in converting the energy supply towards climate neutrality. The precious metal is indispensable in the manufacture of solar panels because of its high conductivity. In addition, components that require silver are needed for the expansion of the global 5G network.
Due to recession concerns and in the wake of gold, the price of the precious metal has recently slipped below the US$ 20 per troy ounce mark. Silver is thus trading at a two-year low and is as cheap as it was two years ago (gold-silver ratio of more than 90) compared to gold. “In addition to the falling gold price, silver is also being burdened by the very weak industrial metal prices,” says Carsten Fritsch, commodity analyst at Commerzbank. If you want to get started at this cheap level, you can use an ETC like the Xtrackers Physical Silver (ISIN: DE 000 A1E 0HS 6).
Palladium supply deficit
Platinum and palladium are closely linked to the traditional automotive industry. Platinum is used in the production of diesel catalytic converters, and palladium in the production of gasoline catalytic converters. At the moment, of course, demand from this sector is subdued, because car companies are known to have problems getting enough computer chips and wiring harnesses for their production.
According to the most important analysis houses, the global platinum market is likely to remain oversupplied this year after a massive supply surplus in 2021. The expectation of rising prices is therefore low. Palladium, on the other hand, looks better. Market observers are expecting a supply deficit for this precious metal again in 2022, after the market was oversupplied for the first time in a long time last year.
Investors who want to bet on rising prices for the two white metals with the help of the WisdomTree Physical Palladium ETC (ISIN: DE 000 A0N 62E 5) or the WisdomTree Physical Platinum ETC (DE 000 A0N 62D 7), for example, should be able to withstand larger fluctuations. In the price section of uro am Sonntag, the listings for the ETCs mentioned can be followed week after week. The most popular gold ETCs Xetra Gold and Euwax Gold are also listed there.
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More news about the platinum price
Image sources: Julian Mezger for Finanz Verlag
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