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Opinion

Band 6+: the graph below shows the average closing prices of selected precious metals from 2013 to 2021

Note: Both the topic and the essay were created by one of our users.

The line graph displays the average closing rates of three valuable metals between 2013 and 2021.

Overall, the closing price of Gold remained relatively stable with only a slight increase towards the end of the named period. Conversely, Platinum saw a steady decline throughout the years. Palladium, on the other hand, witnessed a sharp rise in its closing rates, making it the most valuable of the three metals.

In 2013 Gold’s closing price was at almost $1500 per ounce. It stayed at the same level, with only minor fluctuations until 2019. In the following year Gold increased to approximately $1800 per ounce and plateaued in 2021. Platinum saw a gradual decrease in its rate, starting out at $1500 per ounce in 2013, then falling down to just under $1000 per ounce. In 2021 the rate only slightly increased to approximately $1200 per ounce.

Palladium had the lowest rate of the three metals in 2013, at about $800 per ounce. It showed some fluctuation between 2014 and 2016, before a dramatic surge, going up from around $600 per ounce in 2016 to almost $2200 per ounce in 2020. The price increased to approximately $2400 per ounce in 2021.

Word Count: 197

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