The Global Precious Metals MMI (Monthly Metal Index) has once again witnessed significant bullish sentiment. The index rose 6.48% month on month. After the US election, precious metal prices quickly responded to the election results and the expected policy direction of the Trump administration. Although the index has been rising in the first two months, the price began to decline after the election results were announced.

The US dollar index also began to decline after the election, increasing bearish sentiment towards precious metals. This downward trend may continue in the short term.

In late October, palladium prices rose sharply. However, by early November, they had fallen to a nine week low. This decline is mainly due to the strengthening of the US dollar and concerns about the possibility of the Trump administration imposing new tariffs, which could disrupt international trade and reduce demand for palladium. The strengthening of the US dollar will increase the cost of commodities priced in US dollars for foreign buyers, thereby suppressing demand and lowering palladium prices.

Analysts have different predictions for the near future of palladium. Some people expect prices to continue falling, citing reduced demand in the automotive industry and increased recycling supply. Others believe that potential supply disruptions may help stabilize or even push up prices.

Platinum prices fell in late October, mainly due to the strengthening of the US dollar and increased willingness of investors to take risks. However, platinum prices rebounded in mid November, partly due to ongoing power outages in South Africa, which accounts for approximately 70% of global platinum production.

Looking ahead, analysts hold different views on the direction of platinum. Although some predict that the decrease in demand in the automotive industry and the increase in supply of recycled materials will lead to further price declines, others believe that potential supply challenges may help maintain or increase prices.

The price of silver fell in late October, driven by the strengthening of the US dollar and the rising yield of treasury bond bonds. The price of silver rebounded in mid November and reached over $31.32 per ounce on November 19th. The weakening of the US dollar has also had an impact on market volatility.

Some analysts predict that silver prices may continue to rise, citing tight supply and the possibility of further weakening of the US dollar. Others believe that potential supply disruptions may help maintain or push up prices.

In late October, the gold price soared, once again reaching a historic high. However, due to expectations of tightening US monetary policy under President Trump's leadership and reduced geopolitical risks, prices fell in early November. Analysts predict that gold prices will continue to rise, supported by limited supply and the possibility of a weaker US dollar.

Daily chart of spot gold