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MKS PAMP Group: Platinum prices will rise above $1,350 in 2023 with a 30% probability

Analysts at MKS PAMP Group, a Swiss precious metals trading company, assessed the platinum outlook for 2023. A rise in platinum prices above $1,350 per ounce is 30% probable.

20 January 2023
MKS PAMP Group analytics forecast average price of gold to be around $1880 per ounce in 2023

Strategists at MKS PAMP Group estimate there’s a 50% possibility of the gold price moving sideways within a range of $1,600-$2,100. Besides that, they suggest that a chance for growth to the level of $2,300 is 30%, while they also note there is a 20% likelihood of a decline to $1,400.

20 January 2023
MKS PAMP Group: silver is 35% probable to rise to $30 in 2023

The probability of flat movement within the range of $18-28 is estimated at 50%, the probability of growth up to $30 is 35%, the probability of decrease down to $12 is 15%. The average price for the year is estimated at $22.5.

20 January 2023
Energy and Precious Metals Events for 01/20/23

The focus is on the data on oil rigs from Baker Hughes and speculative positions on oil and gas, gold and silver.

20 January 2023
Iran increased oil production by 7% over the last year

Tasmin Agency, referring to the OPEC report states that the production of black gold in Iran has risen to 2.5 million bpd in 2022.

19 January 2023
EIA: Production growth will keep natural gas prices in check

On Wednesday, the U.S. Energy Information Administration (EIA) reported that prolonged growth in U.S. natural gas production will outpace domestic demand and exports this couple of years. As a result, the average U.S. benchmark price will be lower than in 2022.

19 January 2023
Aramco predicts oil demand growth

The world's largest oil company Aramco predicts an increase in demand for black gold this year. This expectation is driven by the opening of the borders of China.

19 January 2023
U.S. Energy Secretary warns of the oil price growth caused by new law of Republicans

U.S. energy head Jennifer Granholm states that the limitation of presidential authorities to utilize the Strategic Petroleum Reserve (SPR) will threaten national security and will provoke the price growth and deficit of oil.

19 January 2023
Venezuela will not return to the oil market this year

Senior analyst at consulting firm FGE Francisco Gonçalves stated that Venezuela’s oil production gains will be quite limited if sanctions against the country are not eased.

19 January 2023
Plans for refinery repairs could severely reduce U.S. fuel production

U.S. refineries are planning to make overhauls twice as many as usual in the spring. The pandemic and record high refining margins in 2022 were the reasons for delaying repairs.

19 January 2023