All precious metals’ prices rose this week. Similar scenarios have been repeated for several weeks, when metal prices fall for a while, and after that they try to stabilize again. There are many factors that influence metal values, such as the volatility of the Chinese market - if that market recovers, so do metal prices (source: Oilprice.com). However, it should not be forgotten that there have been positive changes during the war in Ukraine this week, sparking hope that the war may end sooner.
Gold rose to $1,725.53 an ounce. Straitstimes.com says that the value of the yellow metal is influenced not only by the exchange rate of the US dollar, but also by changes in the price of energy resources, which, in the current period, is very volatile. The outlook for gold is not so bright yet: it is believed that the price of the metal could fall to $1,700 an ounce (sources: Brecorder.com, Fxstreet.com).
 
Silver rose to $19.84 an ounce this week. Equity.guru says that such a sharp increase in the price of the white metal is mainly due to the fall in the US dollar. It is believed that the price of silver may soon reach $20 an ounce (source: Fxempire.com).
 
Palladium is also following the trend, rising to $2,271.94 an ounce. Platinum is also on the rise, currently trading at $913 an ounce. The increase in the prices of these metals is greatly influenced by their shortage and disruptions in supply chains - it is said that this is one of the biggest supply crises in history (source: Fxstreet.com). As China's economy recovers, so does demand for palladium, which is now considered one of the most desirable metals on the market (sources: Oilprice.com, Stockhead.com.au). Platinum is also gaining more liking from investors, as demand for this metal is growing rapidly in the electric car manufacturing sector. The price of platinum is likely to remain stable for some time (source: Economies.com). Interestingly, demand for platinum in the jewellery sector is on the rise: India has returned to pre-pandemic sales (source: Thehindubusinessline.com).
 

 
The price of copper rose to $8,010.06 a tonne. As the Chinese market recovers, so does the price of copper; in this market the demand for copper is high. The fall in the US dollar also had an impact on the increase in the value of copper (source: Mining.com).