Metal recycling and recovery

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Spalio 11, 2023

This week's developments in the precious metals market once again prove how the events taking place in the world also affect the prices of metals. The war that has started in Israel allows some metals to consolidate and increase their prices, while for others, on the contrary, the prospects may even decrease (source: Metalsdaily.com). Along with inflation, the war in Ukraine – it still has an undeniable impact on metal values. A truly difficult forecasting period awaits.
The price of gold increased this week. It is currently trading at $1,860.95 an ounce. Experts say that the military conflict in Israel has the greatest influence on the rise in the price of the yellow metal (sources: Brecorder.com, Businesslive.co.za). Gold is unforgettable as a reliable investment in any challenging times. Sources say that China continues to increase gold reserves (sources: Caixinglobal.com, Bnnbloomberg.ca).
 
The price of silver also increased. It is currently priced at $21.9 an ounce. Thestreet.com describes silver not only as a precious, but also as an industrial metal, which finds an increasingly wide demand in manufacturing sectors. This week's price growth was also influenced by the unrest in Israel (source: Fxempire.com). Fxstreet.com says that the price of silver should rise above the $22 an ounce mark again.
 
Palladium has fallen again, currently trading at $1,147.78 an ounce. Platinum is also not far behind, currently trading at $892.98 an ounce. Nasdaq.com says that palladium is at its lowest level in five years. Experts predict that the price of palladium will not really increase in the near future (source: Reuters.com). However, the challenge of the US dollar is having a minimal impact on palladium price growth, but it is very minor (source: Economies.com).
Economies.com says that the price of platinum may yet recover, with the price curve showing that it has risen during the week. However, in the long term, the metal may also face difficult times, with mines shedding labour as the price of platinum falls (source: Businesslive.co.za).
Auto News: US auto sales recover: EVs alone expected to top 1 million units this year (source: Heraeus.com).
 


 
The price of copper has increased slightly and is currently priced at $7,984.7 a tonne. Although China's economy still needs time to recover, the long-term forecasts for this metal are positive.  Mining.com predicts that in 2024 copper will be one of the main base metals, so its demand will not decrease.