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News

Rugsėjo 7, 2022

The prices of precious metals are falling, only the value of palladium is still holding a slightly higher position. The periods of autumn and the approaching winter can be difficult: energy prices are rising, inflation is increasing, the war in Ukraine is not over, so it is difficult to predict whether the prices of precious metals will rise during such a period (source: Metalsdaily.com).
The price of gold fell to $1,713.17 an ounce. As the US dollar strengthens, the value of the yellow metal is in no rush to grow (source: Uk.news.yahoo.com). India's gold imports halved due to gold price volatility (source: Brecorder.com). However, Fxstreet.com says that the value of gold should soon return to the $1,730 an ounce position. In the course of a few weeks, it will be clearer to see in which direction the price of the metal is heading.
 
The price of silver fluctuates, but so far it is holding up well. It is currently trading at $18.2 an ounce. Investing.com says that the value of the white metal is recovering as investors do not lose interest in the metal. For example, in India, the development of a 5G network is planned, such infrastructure will require large amounts of silver (source: Heraeus.com). Fxstreet.com says that the price of silver should rise to $18.5 an ounce soon.
 
The price of palladium is holding steady, with the metal currently trading at $2,045 an ounce. Platinum has fallen slightly, currently trading at $856 an ounce. As long as the palladium supply chain is disrupted and much of it is not sourced from sanctioned Russia, it is no wonder that the value of the metal can rise as demand for it does not appear to be diminishing (source: Metalsdaily.com). China has dramatically increased import of platinum, causing the markets to suddenly feel a shortage of the metal (source: Mining.com). China is becoming the leading country in the production of electric cars, so it is natural that the demand for platinum in this country will grow even more, and the price of the metal is unlikely to decrease (source: Sbma.org.cg, Just-auto.com). Demand for platinum jewellery grew by 5% in the second quarter of this year (source: Gjepc.org).
 


 
The price of copper is very volatile. This week it fell to $7,582.8 a tonne. However, this period is likely to be temporary, as China's demand for the metal does not decrease and the US dollar is stable, which are the main reasons why the price of the metal usually rises (source: Mining.com). It is believed that the price of the metal will still recover.