SourcingJun 10, 2025
De Beers Turns to Brown, Yellow Diamonds for New ‘Beacon’“Ombré Desert Diamonds” will emphasize cream-, champagne-, and brown-colored diamonds, shades that set natural stones apart from lab grown.
MajorsMar 02, 2020
Price of Gold Expected to Stay High in 2020
The metal is predicted to average more than $1,500 in 2020, according to a recent Reuters poll.
Gold is expected to average $1,520 an ounce in the first quarter and $1,551 overall in 2020, a recent Reuters poll shows. (Photo courtesy of United Precious Metals)
New York—Gold is predicted to average more than $1,500 an ounce in 2020, according to a recent Reuters poll, up from the $1,393 it averaged last year.
According to a precious metals price poll conducted by Reuters and shared on Refinitiv’s Eikon platform, analysts predict gold will average $1,520 in the first quarter, $1,542 in the second quarter and $1,551 for the full year.
Reuters conducts its poll every quarter, combining predictions from two dozen or more analysts. It represents an average, rather than the actual price gold hits at any point during the day.
The gold price rose dramatically in the second half of 2019, jumping from an average of $1,283.95 in May to $1,498.80 in August.
It hovered somewhere around the $1,500 mark for the rest of the year, finishing with an average price of $1,476.04 in December, according to Kitco.
The gold price rose for several reasons last year, said Johann Wiebe, a lead metals analyst on the GFMS team at Refinitiv.
Negative bond yields encouraged an appetite for gold as an investment, he said.
Also impacting the gold price was general uncertainty in the U.S. economy stemming from macroeconomic developments, like the trade dispute between the United States and China.
To date in 2020, the price of gold has hit its highest level in seven years, peaking at $1,671.65 on Feb. 24.
While it’s come down slightly since then, the metal’s price is expected to remain elevated throughout the year.
Wiebe said concerns around coronavirus will keep gold prices aloft, adding that the spread of the disease has sparked discussion about “wide macroeconomic implications.”
Automobile sales in China, for example, have plunged in the past couple of months.
The disease will have ramifications on global economic growth, and the gold price will remain elevated because of that, Wiebe said.
The current correction in the stock market also is keeping gold prices high.
Ultimately, though, he said once a vaccine is found and restrictions on travel and public gatherings are lifted, the gold price is likely to drop considerably.
Platinum and Palladium Predictions
Platinum is predicted to remain significantly less expensive than gold this year, with the Reuters poll showing the white metal will average $938 an ounce in the first quarter, $962 in the second quarter and $979 for the year.
Wiebe said a declining demand for platinum jewelry in China is having a
big impact, as is the aforementioned decline in automotive demand in the country.
And, as there continues to be a move toward gasoline and electric cars, and away from diesel, platinum is coming under pressure. (Platinum is often used for catalytic converters in diesel cars.)
He noted on the supply side, producers in South Africa are making efforts to consolidate production.
However, because rhodium and palladium—both of which are doing “so incredibly well,” with prices skyrocketing—are often byproducts of platinum production, there still are some miners indicating they will continue producing and stockpiling platinum.
So, supply will stay elevated or possibly increase this year, Wiebe said, “even though it should be moving in the other direction to support prices,” while demand is expected to increase, albeit slowly.
This means, he said, there is some upside for platinum prices but “not a huge amount.”
Palladium, meanwhile, has been performing well and has been the “darling” of the industry for some years now, Wiebe said.
As emissions regulations across the world tighten, palladium demand will increase because of its use in gasoline vehicles.
The decline in car sales in China could bring the price of palladium down a bit too, but since supply won’t increase much in the next two years or so, prices for the metal will remain elevated, Wiebe said.
The Reuters poll predicts it will average $2,056 this year.
Silver Softness
The Reuters poll has silver averaging $18.45 an ounce in 2020, up from $16.21 in 2019.
While silver generally follows the gold price trend, Wiebe said when looking at the gold/silver ratio—the amount of silver it takes to purchase one ounce of gold—silver has been lagging for a few years now.
It’s currently at 95.50 as of Monday morning, according to GoldPrice.com. (Historically, it’s usually somewhere around 65 or 70, according to Wiebe.)
“I think we’re still a bit high,” he said. “I think silver is still cheap where gold’s expensive, so silver still has some potential catch-up to do there.”
But, he added, there’s a lot of silver in the market right now, which “keeps a lid on the opportunity for silver to significantly move.”
And, as there continues to be a move toward gasoline and electric cars, and away from diesel, platinum is coming under pressure. (Platinum is often used for catalytic converters in diesel cars.)
He noted on the supply side, producers in South Africa are making efforts to consolidate production.
However, because rhodium and palladium—both of which are doing “so incredibly well,” with prices skyrocketing—are often byproducts of platinum production, there still are some miners indicating they will continue producing and stockpiling platinum.
So, supply will stay elevated or possibly increase this year, Wiebe said, “even though it should be moving in the other direction to support prices,” while demand is expected to increase, albeit slowly.
This means, he said, there is some upside for platinum prices but “not a huge amount.”
Palladium, meanwhile, has been performing well and has been the “darling” of the industry for some years now, Wiebe said.
As emissions regulations across the world tighten, palladium demand will increase because of its use in gasoline vehicles.
The decline in car sales in China could bring the price of palladium down a bit too, but since supply won’t increase much in the next two years or so, prices for the metal will remain elevated, Wiebe said.
The Reuters poll predicts it will average $2,056 this year.
Silver Softness
The Reuters poll has silver averaging $18.45 an ounce in 2020, up from $16.21 in 2019.
While silver generally follows the gold price trend, Wiebe said when looking at the gold/silver ratio—the amount of silver it takes to purchase one ounce of gold—silver has been lagging for a few years now.
It’s currently at 95.50 as of Monday morning, according to GoldPrice.com. (Historically, it’s usually somewhere around 65 or 70, according to Wiebe.)
“I think we’re still a bit high,” he said. “I think silver is still cheap where gold’s expensive, so silver still has some potential catch-up to do there.”
But, he added, there’s a lot of silver in the market right now, which “keeps a lid on the opportunity for silver to significantly move.”
More on Majors
The Latest
AuctionsJun 10, 2025
Noonans to Auction 16th-Century Signet RingIt's one of the “Gresham grasshopper” rings English financier Sir Thomas Gresham was known to gift to acquaintances or business associates.
CollectionsJun 10, 2025
Tabayer Names Mary Chiam as CEOThe brand also debuted its new “Zorae” collection featuring a talisman of protection and harmony inspired by a sheaf of wheat.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
Events & AwardsJun 09, 2025
And the Winners of the 2025 Couture Design Awards Are … Designers were recognized in 12 categories, from platinum to pearls, before the evening ended with a new, retail-focused award.
Weekly QuizJun 05, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsJun 09, 2025
Nancy Astor’s Cartier Tiara Sells for $1.2MThe rare turquoise and diamond jewel was the top lot at Bonhams’ June jewelry sale.
Events & AwardsJun 09, 2025
Here Are the 2025 Retailer Hall of Fame InducteesThis year’s honorees include a Midwest retailer and two multi-store independents, one in New York and the other in New England.
Brought to you by
The True Power Behind the Counter: Why Sales Associates Are the Heart of the Jewelry BusinessWhen investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.
Events & AwardsJun 09, 2025
CASE Awards Now Accepting Entries For 2025The deadline to submit is June 16.
CollectionsJun 06, 2025
Piece of the Week: Harwell Godfrey’s ‘Granny Squares Eleanor’ Necklace As an homage to iconic crochet blankets, the necklace features the nostalgic motif through a kaleidoscope of cabochon-cut stones.
Events & AwardsJun 05, 2025
The 12 Fresh Faces in Couture’s Design AtelierDiscover the dozen up-and-coming brands exhibiting in the Design Atelier for the first time.
SourcingJun 05, 2025
A Rare Suite of Rubies Has Arrived in Las VegasThe “Royal Ruby” Collection is a quintet of untreated rubies curated by collector Jack Abraham.
Events & AwardsJun 05, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
MajorsJun 05, 2025
Platinum Guild International Updates Leadership TeamTwo existing executives have been given new roles.
Events & AwardsJun 05, 2025
Zillion Announces 'Women in STEM' Scholarship RecipientMeredith Tiderington, an electrical engineering student, was selected for the award.
Lab-GrownJun 04, 2025
GIA Reverting to More General Terminology for Lab-Grown DiamondsIt will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”
Events & AwardsJun 04, 2025
As JCK Talks Returns, Don’t Miss These 12 SessionsFrom design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.
CrimeJun 04, 2025
10 Safety Tips for the Las Vegas Shows The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.
MajorsJun 04, 2025
Amy Curran Promoted at Hill & Co.Her new role is director of strategic initiatives.
CollectionsJun 03, 2025
In Her Latest Collection, Viviana Langhoff Is Leaning Into GoldThe designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.
FinancialsJun 03, 2025
Signet Jewelers Sees Turnaround in Q1 With Sales Ticking Up 2%On an earnings call, CEO J.K. Symancyk discussed what’s working for the company and how it’s preparing for the potential impact of tariffs.
SurveysJun 03, 2025
Consumer Confidence Improves in May The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.
CollectionsJun 03, 2025
Dakota Johnson Is Roberto Coin’s New Brand AmbassadorThe actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.
GradingJun 03, 2025
Mason-Kay Jade Adds ‘Fei Cui’ to Jade ReportsThe company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."
SourcingJun 02, 2025
Gemfields’ June Auction to Include 36-Carat RubyThe large stone will be offered at its June sale along with a selection of secondary-type rubies from a new area of the Montepuez mine.
GradingJun 02, 2025
GSI Opens New Lab in Thailand Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.
TrendsJun 02, 2025
Amanda’s Style File: Three Gems for June Those born in June have a myriad of options for their birthstone jewelry.
