The State Duma predicted the dynamics of precious metals

On May 4, State Duma deputy and member of the Committee on Small and Medium-sized Enterprises Alexey Govyrin (United Russia faction) commented to Izvestia on the prospects for the precious metals market and the possible retention of record levels by the end of 2026.

According to him, the price of gold on May 4 was at about $4,588.71 per troy ounce. According to the forecast of the World Bank, in 2026 gold may rise in price to $ 4.7 thousand, silver — up to $ 70, platinum — up to $ 1950 per ounce. However, a correction is expected in 2027: gold may drop to $4.3 thousand, silver — to $65, platinum — to $1.7 thousand, against the background of a possible decrease in the overall precious metals index by about 8%.

"According to the World Gold Council, in the first quarter, the demand for gold, taking into account the over-the-counter market, increased by 2% to 1,231 tons, and its value reached a record $193 billion. At the same time, investment demand was distributed as follows: bullion and coins — 474 tons, exchange—traded funds — 62 tons, central banks showed net demand at 244 tons, while the jewelry segment decreased by 23%," the expert explained.

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According to the Silver Institute, the silver market is expected to experience a sixth consecutive year of shortages: in 2026, the gap could reach 46.3 million ounces compared to 40.3 million in 2025. Since 2021, the total withdrawal from above-ground reserves has reached 762 million ounces.

In the platinum segment, according to estimates by the World Platinum Investment Council, a deficit of about 240,000 ounces is expected in 2026, after 1,082 million ounces a year earlier. At the same time, the investment demand for bullion and coins may grow by 35% — up to 725 thousand ounces.

Govyrin stressed that tight monetary policy, a strong dollar and possible profit-taking after record growth remain the key risks for gold. For silver and platinum, an additional pressure factor may be weakening industrial demand amid a slowdown in electronics, solar energy, the automotive industry and the Chinese economy.

As reported on April 29, the price of gold futures for delivery in June 2026 on the Comex exchange on April 29 fell below $4,550 per troy ounce for the first time since March 30 this year. As of 16:20 Moscow time, the price of precious metals decreased by 1.34%, amounting to $4,546.8 per troy ounce. Five minutes later, by 16:25 Moscow time, the futures price slowed down the decline. Gold was at the level of $4,547.5 per ounce, which is 1.32% lower than the previous values.