Silver, platinum and palladium prices decline in global markets

While the upward trend seen at the beginning of the year in precious metals has given way to calm, silver, platinum and palladium are declining under the pressure of a strengthening dollar, rising U.S. Treasury bond yields and high real interest rates.

Market pressure on gray metals

Following the strong rise at the beginning of the year in precious metals, the picture has calmed down and prices are pulling back under the influence of various macroeconomic factors.

Silver hits two-month lows

Trading around $60.5 per ounce as of yesterday afternoon, silver hovered near two-month lows and has declined by about 14 percent since the beginning of the year.

While the price holding above support in the $55-60 region indicates that demand has not completely disappeared, Metals Focus expects silver to regain strength in the upcoming period.

Platinum fails to break $1,900 resistance

Price pressure is also clearly felt in platinum, with the metal failing to break the $1,900 resistance level and retreating to the $1,650 band.

Metals Focus predicts that the structural supply deficit will continue to support platinum and that the price will average $2,060 in 2027.

Palladium is the weakest link of the group

Palladium exhibits the weakest outlook among the trio, with its spot price dropping to $1,138 this week, reaching its lowest level since September 2025.

Weakening automotive demand, a decline in gasoline-powered vehicle production and increased recycling continue to increase the pressure on palladium.

Supply surplus concerns in silver

While the physical scarcity narrative supporting silver prices is weakening, according to Deutsche Bank data, the freely purchasable quantity has increased by 70 percent since October 2025.

Decreasing global consumption in solar energy applications and falling demand in China, combined with the increase in inventories, bring up the risk of a supply surplus for next year.