The insurance company’s previous president and CEO, Scott Murphy, has split his role and will continue as CEO.
Gold Price Expected to Continue to Climb in 2020
The latest Reuters poll has the metal averaging more than $1,400/oz. next year, while some analysts predict the spot price could hit $2,000.

New York—Gold is expected to average more than $1,400/oz. next year, up from $1,360 this year, a recent Reuters poll shows.
Reuters publishes a precious metals price poll every quarter, combining predictions from two dozen or more analysts.
In the latest poll, done at the beginning of September, analysts predicted gold would average $1,393/oz. in the third quarter, $1,416 in the fourth quarter and $1,360 for the entire year.
The 2020 average for gold is forecast to rise to $1,425/oz.
The Reuters poll represents averages, not the actual price gold hits at any point during the day, and includes predictions from more than 30 participants, which is why it is less bullish than the note released by Citi analysts in mid-September, which predicted spot gold prices could top $2,000 an ounce in the next year or two.
Still, both sources point toward the gold price going up.
Unlike other metals, which are tied to market fundamentals such as supply and demand, gold is “very responsive” to certain macro-economic developments, said Johann Wiebe, a lead metals analyst on the GFMS team at Refinitiv.
Currently, those include the Federal Reserve lowering interest rates and the ongoing U.S.-China trade war.
“People are uncertain; that’s why the gold price goes up,” he said, noting the best example of gold prices reacting to macro-economic conditions was when it skyrocketed during the 2008 financial crisis, as investors lined up to buy gold investment bars and coins amid the global financial meltdown.
In the jewelry industry, the high price of gold led retailers to push buyback programs while swapping out gold for silver in display cases.
While Wiebe recognizes there is a lot of uncertainty in the world right now, he said Refinitiv is more modest in its exact forecast for gold and will need to see economic factors take a firmer hold before it predicts gold will breach $2,000 an ounce.
Platinum and Palladium Prices
Wiebe said platinum will remain less expensive than gold for the foreseeable future, though the Reuters poll has the white metal’s price rising next year too.
In the third quarter, the poll has platinum averaging $858/oz. and climbing to $880 in the fourth quarter, finishing the year with an average of $851.
In 2020, the poll has the average platinum price at $926/oz.
Analysts are also bullish on palladium.
Ten years ago, the white metal averaged around $300/oz., data supplied by Refinitiv shows (see chart below).
Supply is just not high enough, Wiebe said, and the market is in repeated, severe deficit.
In the Reuters poll, analysts predicted palladium will average $1,478 in the third quarter and $1,465 in the fourth, finishing the year at $1,448/oz. The predicted average for 2020 is only slightly lower, at $1,444.
Silver Shadows
The price of silver is expected to mirror that of gold in the near term, rising in the fourth quarter and again next year.
The Reuters poll has silver averaging $15.79 an ounce in the third quarter before increasing to $16.13 in the fourth. The metal’s average for 2019 is expected to land at $15.59.
Next year, the price of silver is expected to increase to an average of $16.73.
The Latest

The nearly six-month pause of operations at its Kagem emerald mine earlier this year impacted the miner’s first-half results.

The addition of Yoakum, who will lead Kay and Peoples, was one of three executive appointments Signet announced Thursday.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

The necklace uses spinel drops to immortalize the moment Aphrodite’s tears mixed with her lover Adonis’ blood after he was fatally wounded.


The diamond miner and marketer warned last week that it expected to be in the red after significantly cutting prices in Q2.

Jewelers of America’s 35th annual design contest recognized creativity, artistry, style, and excellence.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

Tratner succeeds Andie Weinman, who will begin stepping back from the buying group’s day-to-day operations.

The president made the announcement via Truth Social Wednesday, adding that India also will face a penalty for its dealings with Russia.

The luxury titan’s star brand Gucci continued to struggle amid a "tough" environment.

Its opening marks the completion of the retailer’s new 11,000-square-foot store in the Texas capital.

“Making a Killing in Diamonds” tells the story of Mimi Rosen, the disappearance of a scientist, and the murder of lab-grown diamond CEO.

Senior Editor Lenore Fedow learned a lot when she took a behind-the-scenes factory tour with the jewelry brand earlier this year.

The first-time exhibitors, set to debut at the New York City show, share a devotion to craftsmanship, storytelling, and material integrity.

The online auction house’s September sale will feature rough Brazilian emeralds of various qualities.

She’ll lead an executive committee consisting of President-Elect Bryan Moeller, Mitchell Clark, Bill Farmer, and Larry Rickert.

Announced Sunday, the deal will set the tax on goods imported into the United States from the European Union at 15 percent.

A new edition of the Italian brand’s “Ipanema” collection has debuted with gemstones that evoke Brazil’s breathtaking views.

The retailer will refer its customers to WonderCare, founded by venture capitalist and watch collector Kevin O’Leary.

The jeweler’s largest store yet is set to open in Little Rock next fall.

Anne Hathaway was seen wearing the toggle necklace three times while filming scenes for “The Devil Wears Prada 2.”

Jewellery & Gem World Hong Kong is scheduled for Sept. 15 to 21, and buyer pre-registration will be available until Sept. 7.

Renovations at Tiffany & Co. stores ate into profits in the company’s watch and jewelry division.

Mark and Candy Udell of London Jewelers will receive the honor at the 24th annual Gem Awards next March.

While struggles continue at the mining and trading end of the pipeline, consumer demand for diamond jewelry is holding steady.

The “Fantasia” jewelry collection turns the intaglio animals from her “Close Encounters” collection into 3D characters.