The line graph illustrates the average closing prices of selected precious metals, specifically gold, platinum, and palladium, from 2013 to 2021.
Overall, gold demonstrated considerable price fluctuations initially but displayed a marked upward trend towards the end of the period, while palladium experienced significant appreciation over the years. In contrast, platinum exhibited an initial rise followed by a decline.
In the initial years of 2013 and 2014, gold prices witnessed a decline from approximately $1,500 to $1,200. During the same timeframe, platinum prices remained relatively stable, plateauing around $1,500. In comparison, palladium prices were the least among the three metals during the years 2013 to 2015, reflecting a substantial decrease and maintaining a lower valuation throughout this period. The price of palladium hovered around $700, failing to make significant gains until later.
Commencing in 2016, palladium prices experienced a dramatic surge after a prolonged period of stagnation, rising consistently to $1,500 by 2021. In contrast, gold prices demonstrated steady growth from 2016 to 2018, followed by a persistent increase from 2019 to 2021. Though gold experienced proportional growth relative to both palladium and platinum, it did not reach the heights achieved by palladium. Interestingly, after an initial peak, platinum’s value began to decline, showcasing a significant decrease in price throughout the years under review. Notably, palladium stood at the highest position on the graph in the latter half of the period, underscoring its significant appreciation despite earlier underperformance.