Statement of Hans-Günter Ritter to the Precious Metal Situation and Forecast 2020

Most precious metal prices will continue to rise in the new year, according to Heraeus Precious Metals, the world's largest precious metal processor. "Global developments will again have a strong influence on precious metal prices in 2020. While gold tends to be influenced more by uncertainties, platinum group metals are affected by the globally more stringent limits in the automotive industry," said André Christl, President of Heraeus Precious Metals. Continued low interest rates, tensions in the Middle East, and unresolved trade conflicts should keep investor interest in gold high in 2020. The massive purchases by central banks should also support the price of gold. According to the Heraeus experts, silver will profit from strong industrial demand, for example in photovoltaics. In the case of palladium, the supply deficit, triggered by strong demand from the automotive industry, should drive prices under strong fluctuations. Platinum should not make large leaps in view of the continuing oversupply. Rhodium should continue to rise with fluctuations.