Gold Performance Key to Silver's Rally, HSBC Reports

HSBC strategists have provided insights into the current precious metals market, highlighting the interconnected dynamics of gold, silver, platinum, and palladium. They suggest that silver’s recent rally may not be sustainable without support from gold prices, while palladium faces challenges due to weakening equity markets and economic concerns. Platinum, although potentially undervalued below $900 per ounce, is experiencing sluggish demand, particularly from Asian markets. The analysis emphasizes the distinct factors influencing each metal’s performance and the broader economic context affecting their prices.