World Bank released a dismal forecast for gold, saying that from $ 1,700, its average price will drop to $ 1,600 in 2022.

This gloomy outlook is driven by the fact that prices are trying to break above $ 1,800, but can not.

As such, the poor performance is much more striking because at this time, the prices of other commodities are above pre-crisis levels already. For example, copper now costs almost 50% higher than its price last 2019.

And for the entire metals market, the World Bank said prices will jump by 30% this year, and then rebound in 2022, when the global economy begins to normalize.

Gold, however, will decline by around 4% due to demand weakening because of the improving economy and rising bond yields. Obviously, these two factors are making gold less attractive, especially the persistent increase in bond yields.

Gold purchases by central banks have also decreased, while physical demand, although has recovered this year, remains well below the pre-crisis level.

But for silver, the World Bank said it will grow by as much as 22% this year, driven by increased industrial demand. Then, in 2022, it should correct and return to a price of $ 22.

In fact, at the time of writing, silver futures for July is already at $ 26,495, 2.40% higher than yesterday. This clearly shows that the metal is outperforming gold.

The World Bank also sees upward potential for platinum, predicting a 24% increase in prices this first quarter. Then, by the end of this year, it should rise by 25%.

To be more specific, it will average $ 1,100 this year, and then by $ 1,110 next year.

At the time of writing, platinum futures for July is at $ 1,222, roughly 1% higher than yesterday.