With the start of the US/Israel-Iran War, sharp fluctuations were seen in the commodity market this year. All commodities, especially precious metals, were affected by these fluctuations.
While the trend reversed with the start of the war in gold, silver and platinum prices, which broke records in the first month of this year, palladium also got its share of this downward trend. The Fed increased interest rates for the first time since 2023, increasing the policy rate by 25 basis points to the range of 3.75-4 percent, and Fed President Kevin Warsh emphasizing his determination in the fight against inflation, strengthening the predictions that the bank will continue to increase interest rates.
With these predictions, selling pressure dominated the bond markets, while the demand for dollars increased. The strengthening dollar triggered selling pressure on precious metals.
Gold is back from records
An ounce of gold, which started this year at 4 thousand 313 dollars, broke a record by testing 5 thousand 600 dollars in January. This rise of ounce gold, which completed January at 4 thousand 849 dollars with a 12.4 percent gain in value, continued in February.
An ounce of gold closed February at 5 thousand 263 dollars, gaining 8.5 percent. The ounce of gold, which started to lose value due to the developments between the USA and Iran, completed March at 4 thousand 667 dollars with a decrease of 11.32 percent. This decline in March was recorded as the steepest monthly decline since the 2008 crisis.
The ounce of gold, which lost 1 percent of its value in April, decreased by 1.77 percent in May and completed May at 4 thousand 540 dollars. An ounce of gold closed the month of June with a decrease of 11.7 percent at 4 thousand 7 dollars. Thus, an ounce of gold lost 7.1 percent of its value in the first half of the year.
An ounce of gold increased by 1 percent in July to 4 thousand 44 dollars, making investors happy on a monthly basis for the first time in 5 months.
The ounce of gold, which gained 10 percent in value in August and recorded its fastest rise since January, decreased by 6.6 percent to 4 thousand 157 dollars in September, making its steepest decline since June.
An ounce of gold lost 3.6 percent of its value in the 9 months of the year.
The ounce of silver decreased by 14.8 percent in the 9 months of the year
Silver, which started the year at $71, broke a record by rising to $121.7 per ounce in January. Silver, which completed January with a 17.3 percent increase at $83.3 per ounce, continued its rise in February.
Completing February with a 12.6 percent increase at 93.8 dollars, ounce silver fell sharply in March due to the impact of the war in the Middle East. An ounce of silver, which dropped to $61 in March, completed this month at $75.1 with a decrease of 19.9 percent, and completed April at $73.7 with a decrease of 1.9 percent.
Although the ounce of silver recovered again at the end of May and increased by 2.2 percent to 75.3 dollars, it decreased by 22 percent to 58.7 dollars in June. Silver completed the first half of the year with a loss of 17.3 percent.
Silver closed July at 57.7 dollars with a 1.7 percent decrease, August with a 13.5 percent increase at 65.5 dollars, and completed September at 60.5 dollars with a 7.6 percent decrease.
The ounce of silver decreased by 14.8 percent in the 9 months of the year.
The ounce of platinum and palladium also decreased in 9 months
The ounce of platinum, which started the year at 2,054 dollars, broke a record at 2,923.3 dollars in January, due to ongoing problems with global supply. An ounce of platinum, which completed January with an increase of 6.2 percent at 2 thousand 182.2 dollars, completed February with an increase of 8.5 percent at 2 thousand 366.5 dollars. Platinum, which fell sharply in March, ended this period with a 17.2 percent decrease to 1960.1 dollars due to increasing geopolitical risks and a strengthening dollar.
While the ounce of platinum increased by 1.6 percent to 1991.4 dollars in April, it decreased again in May and fell to 1922.6 dollars.
While platinum completed the month of June with a decrease of 19.2 percent at $ 1553, it lost 24.4 percent of its value in the first half of the year.
It closed July with an increase of 6.1 percent at $1648, and closed August with an increase of 8.9 percent at $1795. The ounce of platinum, which completed September at 1712 dollars with a loss of 4.6 percent, lost 16.7 percent in value in the 9 months of the year.
The ounce of palladium, which started the year at 1603 dollars, increased by 7 percent to 1713.3 dollars in January, and increased by 4.4 percent to 1788.7 dollars in February.
An ounce of palladium, which fell by 17 percent to 1484.8 dollars in March, rose by 3.3 percent to 1533.9 dollars with a slight recovery in April. An ounce of palladium, which decreased by 11.4 percent to 1359.6 dollars in May, decreased by 10.8 percent to 1212 dollars in June.
Palladium made its investors lose 24.2 percent in the first half of the year.
An ounce of palladium, which increased by 5.6 percent to 1280 dollars in July and by 6.5 percent to 1363 dollars in August, completed September with a decrease of 11.1 percent to 1211.2 dollars.
An ounce of palladium lost 24.4 percent of its value in the 9 months of the year.
