A rising dollar has been applying downward pressure on gold and silver following the U.S. presidential election. But market experts are still forecasting record prices for both precious metals heading into 2025.

TORONTO, Dec. 06, 2024 (GLOBE NEWSWIRE) -- Sprott Asset Management LP (“Sprott Asset Management”), a subsidiary of Sprott Inc., on behalf of the Sprott Physical Platinum and Palladium Trust (NYSE: SPPP) (TSX: SPPP / SPPP.U) (the “Trust”), a closed-ended mutual fund trust created to invest and hold substantially all of its assets in physical platinum and palladium bullion, today announced that it has added additional sales agents to its at-the-market equity program to issue up to US$50 million of units of the Trust (“Units”) in the United States and Canada.

Gold and silver surged in 2024, with silver up 30.6% and gold 27.22%, while platinum and palladium saw declines. Lower U.S. interest rates and potential dollar weakness could support higher platinum and palladium prices, despite current bearish trends. The Sprott Physical Platinum and Palladium Trust offers value at around $10 per share, consolidating amid low liquidity and potential future rallies.

TORONTO, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Sprott Asset Management LP (“Sprott Asset Management”), a subsidiary of Sprott Inc., on behalf of the Sprott Physical Platinum and Palladium Trust (NYSE: SPPP) (TSX: SPPP / SPPP.U) (the “Trust”), a closed-ended mutual fund trust created to invest and hold substantially all of its assets in physical platinum and palladium bullion, today announced that it has updated its at-the-market equity program to issue up to US$50 million of units of the Trust (“Units”) in the United States and Canada.

Platinum and palladium prices have struggled to surpass $1,000 per ounce recently, with palladium experiencing a significant decline since reaching a record high in 2022. Gold and silver have been in bull markets, with silver reaching its highest price in nearly 12 years and gold hitting a new record peak. The Sprott Physical Platinum and Palladium Trust invests in physical platinum and palladium, providing exposure to these metals in standard stock market accounts.

Palladium prices experienced a significant decline in 2023, but may offer value in 2024. Platinum prices remained weak in 2023 but outperformed palladium. Four factors, including COP28 and supply concentration, support a potential rally in platinum and palladium prices in 2024.

Platinum group metals (PGMs) include iridium, osmium, palladium, platinum, rhodium, and ruthenium, and they have high melting points, heat and corrosion resistance, and unique catalytic properties. Palladium has been in a bear market since reaching a record high in March 2022, while platinum has been in a brutal bearish trend since its all-time high in 2008. PGM supplies come mainly from South Africa and Russia, with Russia producing the most palladium and South Africa producing the most platinum. PGMs have various industrial.

As the capital markets await on a Fed pause on rate hikes, gold and palladium have been ticking higher. A pause may signify that eventually monetary policy easing could emerge as was expected heading into 2023.

Platinum and Palladium prices look set to jolt amid an underestimated supply-side problem in South Africa and an enhanced global industrial production outlook. With a nearly equally-weighted portfolio of physical Platinum and Palladium, Sprott Physical Platinum & Palladium Trust provides investors with the ideal opportunity to capitalize on PGM prices.

Platinum remains in a funk. Platinum has underperformed other precious metals for years. Palladium exploded to new record highs in 2022 before imploding. The demand remains strong.