Metal Prices Poised to Rise in 2022
In my last column, I detailed how the prices of gold and silver in 2021 not only did not exceed the percentage increases that they experienced in 2020, but actually fell over the course of the year. Similarly, where I expected the price of platinum to end 2021 higher than it did at the end of the year before, its price also declined. Palladium’s price, as I expected, declined over the course of last year. (See article online at www.numismaticnews.net/coin-market/precious-metalsprices-down-in-2021.)
Before I move on to discuss what may happen in 2022, I think it makes sense to put 2021’s precious metals price moves into a greater perspective. Instead of looking only at the one-year results, it probably makes more sense to do a two-year analysis, so that you use a starting point before the onset of the COVID pandemic.
As this was being written on Dec. 29, shortly before the COMEX settled for the day, the spot price of gold jumped 18.7 percent from the Dec. 31, 2019, close. Over
