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Precious metal investment is an investment method that is affected by many factors, including economic environment, geopolitics, market demand, supply, etc. In 2023, the precious metals market showed a mixed situation, with gold and silver prices rising, while platinum and palladium prices fell. As a safe-haven asset, gold has benefited from dovish U.S. interest rates, conflicts in the Middle East, central bank purchases and other factors, hitting a record high and is expected to continue to strengthen in 2024.

Silver is following the trend of gold and is supported by improving industrial demand, and is expected to trend towards $26 per ounce in 2024.

Platinum and palladium prices weakened due to reduced demand for autocatalysts. The platinum market is in short supply but demand is also weakening and is expected to remain in a range of $800/oz to $1,100/oz in 2024.

The palladium market is oversupplied and demand is declining, and is expected to fall to $750 per ounce in 2024.

Generally speaking, precious metal investors should formulate appropriate investment strategies based on the characteristics of different precious metals and market dynamics, seize opportunities, and avoid risks. The precious metals market remains full of variables and uncertainties, requiring investors to remain vigilant and flexible.