CrimeMar 11, 2025
Man in Florida Swallows Allegedly Stolen Tiffany & Co. Jewelry The suspect allegedly stole almost $800,000 worth of diamond jewelry from a store in Orlando and then swallowed it during a traffic stop.
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
Editors' Picks
Sponsored by
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
ColumnistsMar 11, 2025
Creative Connecting: How to Pose on the Red CarpetAhead of the Gem Awards on Friday, Jen Cullen Williams and Duvall O’Steen share pro tips for taking the best photos.
CollectionsMar 11, 2025
Marco Bicego Celebrates 25 Years With Collection, CampaignFounded in 2000, Marco Bicego is commemorating its milestone anniversary with a “25 Best” collection and campaigns honoring its heritage.
Brought to you by
Watch: GIA Field Gemology at the One-Hundredth Expedition: A Look Back and to the FutureSupplier Spotlight Sponsored by GIA
TechnologyMar 11, 2025
Hill & Co. Launches New B2B Buyer DatabaseThose attending the company’s upcoming Zoom workshop will receive early access to “The List,” its new resource for finding buyers.
Weekly QuizMar 06, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMar 11, 2025
JSA to Honor GIA Employee at Annual LuncheonThe organization will present an award to Amy-Elise Signeavsky, law enforcement and diamond recovery manager at GIA.
CollectionsMar 10, 2025
MaeVona Co-Founder Debuts 3D-Printed ‘Tùsaire’ CollectionScottish American designer Maeve Gillies collaborated with Platinum Guild International on jewelry created by direct metal 3D printing.
Brought to you by
Natural Diamonds Should Mean MoreNatural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.
Events & AwardsMar 10, 2025
The Jewelry Symposium Announces 2025 Scholarship WinnersAhead of its trade show in May, TJS awarded free registration and accommodations to five up-and-coming jewelry industry professionals.
Events & AwardsMar 10, 2025
These Designers, Journalists, and Retailers Are Up for a Gem Award The 2025 Gem Awards are set to take place Friday at Cipriani 42nd Street in New York City.
CollectionsMar 07, 2025
Piece of the Week: Yeprem’s ‘Golden Strada’ NecklaceThe statement piece is seen in Yeprem’s new “You Play the Game” campaign, created for International Women’s Day.
MajorsMar 07, 2025
Borsheims Names New Senior Security and Facilities ManagerLongtime employee Kyle Slosson has been promoted to the role.
IndependentsMar 06, 2025
Wixon Jewelers to Close After 37 YearsFirst-generation jewelers Dan and Hope Wixon are retiring and will close their Minneapolis-area jewelry store in May.
CollectionsMar 06, 2025
Guzema, 3.1 Phillip Lim Collab on New ‘Snake’ DesignsThe limited-edition collection, a nod to the Year of the Snake, is Ukrainian brand Guzema’s first partnership with a U.S. brand.
IndependentsMar 06, 2025
Stephen Barnes Is the New Owner of IJOAfter more than 50 years, Jeff Roberts is handing over ownership of the organization to IJO President Stephen Barnes.
Events & AwardsMar 06, 2025
Borsheims’ ‘Ike-It’ Award Goes to JewelerSenior Jeweler Jay Wolff was named employee of the year.
MajorsMar 05, 2025
Neiman Marcus’ Dallas Flagship Store to Close, Confirms Saks GlobalThe 111-year-old store will close following a dispute among Saks Global, a landlord, and the City of Dallas over a small piece of land.
AuctionsMar 05, 2025
Sotheby's To Auction 51 ‘Alien’ WatchesThe upcoming “Area_51” watch sale is a collaboration with heist-out, featuring vintage and modern timepieces with futuristic designs.
MajorsMar 05, 2025
Jewelers of America Unveils 3-Year Strategic Plan The trade organization, which will mark 120 years of service next year, has a refined focus and a new mission statement.
Events & AwardsMar 05, 2025
92NY Accepting 2025 Jewelry Artist Residency ApplicationsThe application period is now open for established and emerging jewelers and metalsmiths to apply to the month-long residency program.
CrimeMar 04, 2025
4 Suspects Arrested in Fatal Armed Robbery of California Jewelry Store Uc Thí Vo, who co-owned Kim Tin Jewelry in Sacramento with her husband of 40 years, was killed during the November 2024 robbery.
CrimeMar 04, 2025
NYC Diamond Dealer Pleads Guilty to Lab-Grown Diamond SwapsManashe Sezanayev pleaded guilty to grand larceny and is expected to receive five years’ probation when he’s sentenced in May.
TrendsMar 04, 2025
Amanda’s Style File: Peaceful and Powerful AquamarineThe March birthstone pairs perfectly with hues of Mocha Mousse, Pantone’s Color of the Year for 2025.
ColumnistsMar 04, 2025
The Smart Lab: Using Online Events to Supercharge Sales Emmanuel Raheb shares strategies to prepare for, publicize, and engage the audience during events on platforms like TikTok and Zoom.
EditorsMar 03, 2025
Drop Necklaces, Archival Pieces Take Over at the 2025 OscarsFrom Doja Cat to Mikey Madison and Selena Gomez, many of this year’s Academy Awards attendees donned drop necklaces.
Policies & IssuesMar 03, 2025
Customs Indefinitely Postpones Requirement to Disclose Country of MiningOriginally slated to take effect in April, official U.S. Customs and Border Protection documents now show the implementation date as “TBD.”
SurveysMar 03, 2025
Consumer Confidence Fell in February Amid Concerns About the FutureThe recent jump in the prices of household staples, like eggs, and the potential impact of tariffs worried consumers.
