The worst year since 2015 for gold with losses of 3.6%

With losses of 3.6% on an annual basis, 2021 is the worst year for gold since 2015 (when it plunged by 10% a year), as the global economic recovery has dampened the attractiveness of the precious metal which is considered a safe haven in periods of increased volatility and anxiety.

The global price rally has led the major central banks to prepare to raise interest rates in 2022, hitting the precious metal that is considered to offer protection against inflation.

Thus, the price of gold fell by 3.6% per year after a rally of 48% in the previous two years, as the global economic recovery has reduced demand for the precious metal. Characteristically, gold hit 2020, the year the global economy plunged into recession due to the pandemic, the best annual return in 10 years, with the precious metal climbing to a record high of $ 2,072.50 an ounce.

At the last meeting of the year, o gold delivery in February added $ 14.5, or 0.8%, to $ 1,828.60 an ounce, at the highest level of the last 6 weeks (from 19 November). In weekly basis, the precious metal strengthened against 0,9%, in monthly against 2,9%, while in 3 months write down profits 4%.

“Parallel Lives” for silver, with the March delivery contract gaining 29.2 cents, or 1.3%, on Friday, to $ 23,352 an ounce. In the week the silver strengthened by 1.8%, in the month by 2.4%, while in the 3 months it climbed 5.9%. However, on an annual basis, silver “sank” by 11.5%, at its worst year since 2014, when it lost 19.5%.

As for the other metals, o March delivery copper strengthened by 7.1 cents or 1.6% in the last session of 2021, to reach the price of $ 4.4635 per pound. In the week copper gained 1.5%, in the month 4.2% and in the quarter 9.1%. Industrial metal did rally almost 27% the 2021, in its largest annual increase since 2017, when it had made gains of about 32%.

THE april delivery platinum closed with small gains of $ 1.60, or less than 0.1%, at $ 966.20 an ounce. On a weekly basis, platinum lost 0.9%, however in the month it strengthened by 4.2% and in the 3 months it added 0.4%. However, on an annual basis platinum fell by 11% in its worst year since 2018.

Finally, the palladium delivery in March lost $ 71.10 or 3.6% on Friday at $ 1,912.10 an ounce. In the week, it lost more than 2%, however in the month it recorded gains of 11%. In the 3 months the palladium recorded marginal losses, however in the year fell by 22%.