Heraeus Precious Forecast 2023

Heraeus Precious Forecast 2023

The ongoing war in Ukraine, continued high inflation and recession concerns - how will gold, silver and the platinum metals develop in the new year against this backdrop? As the world's largest recycler and trader of precious metals, what trends does Heraeus Precious Metals expect for its own business and for the entire industry? What do the current developments mean for precious metals trading and for industrial applications? We provide answers to these questions in our "Precious metals forecast for 2023".

The gold price will strongly depend on the development of the dollar. The Heraeus experts assume that the US Federal Reserve will slightly change its monetary policy in the course of 2023. After all, inflation is likely to continue to decline and a weakening US economy will become the focus of the monetary guardians. Should the Federal Reserve keep interest rates stable or even lower them, this could support the gold price. A record high in euro terms is quite possible.

In silver, a moderate increase in demand for smartphones should support the price. For 2023, the Heraeus experts expect more sales of 5G-capable devices - this should boost silver demand. In addition, demand for photovoltaics should continue to rise in 2023. The Heraeus experts are skeptical about palladium. The market should show a surplus next year. Iridium should have bottomed out. Demand should rise slightly in 2023 due to the increasing use of PEM electrolysers in the hydrogen industry. This trend should strengthen in the following years.

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