Precious Metals Were The Winners In H1 2020

Precious Metals Were The Winners In H1 2020

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Every year around this time, we check in with raw materials for our popular commodities halftime report. This year, it wasn't even a competition.



Precious metals were the big winners for the first six months of 2020. Spot gold took the first place position, rising over 17 percent, followed in second place by silver, up nearly 2 percent. Palladium rounded out the top three, essentially flat at negative 10 basis points.









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Platinum“”which, like palladium, is used in the production of emissions-scrubbing catalytic converters“”trailed substantially behind its precious metal brethren for the six months as global auto sales plunged amid coronavirus lockdown measures.



However, that may be set to change. Automobile manufacturers in China, the world's number two auto market, announced Friday that second-quarter sales increased more than 10 percent compared to the same period a year earlier. In fact, June sales in China hit a new record high, with 2.3 million vehicles sold.



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Gold had a phenomenal week, notching its fifth straight week of gains as investors sought a safe haven from sinking government bond yields. Last