Precious metals’ performances diverged in December. Gold and silver prices were broadly flat despite the Fed hiking interest rates for the first time since 2006, while platinum and palladium recovered some of the losses from previous months. More recently, palladium has lost ground as China’s weaker-than-expected December manufacturing PMI reading reignited fears of a slowdown in metals demand. In contrast, the price of gold has been supported by safe-haven demand due to China worries and escalating tensions in the Middle East.
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