Precious Metals Prices
Movements in precious metals prices have long held a fascination for both economists and the general public. Although precious metals have many industrial and commercial applications, their prices behave more like those of long-term assets than those of consumable commodities. As a result, traders have strong incentives to acquire all information about economic developments that could influence future commodity values and to incorporate the information into current (or spot) prices. This explains why spot and futures prices of precious metals normally move together (as the charts for silver and platinum so clearly illustrate).
Suggested citation: “Precious Metals Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-08, pp. 06, 08.01.1998.