Introduction
These analyses are by Bloomberg Intelligence analyst Eily Ong.
Support for precious-metal prices is likely to come from continued uncertainty about global economic growth, geopolitical troubles and inflationary pressure in a low-interest-rate environment with expanding global money supply. We think a potential reversal of planned rate hikes and stronger growth in the U.S. may add to the dollar's weakness and help protect metals' safe-haven appeal. Improvement in precious-metal demand may also come from automakers, central bankers and physical investors.
Precious metals' supply growth could face constraints in 2019 as miners around the world deal with declining metals grades and increased production costs from labor and fuel, in our view.
