Metal recycling and recovery

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Lapkričio 14, 2023

Prices for all precious metals fell slightly this week. Such periods are not new in the precious metals market. However, the prices of many metals have decreased slightly, so there is no need to worry. Experts' forecasts are still vague and do not tell much about what can be expected in the future.
The price of gold fell slightly. It is currently trading at $1,946.74 an ounce. However, the markets are reacting to this by increasing gold reserves even more. It's no longer news that China has been buying gold non-stop, and also Japan has joined this trend (source: Scmp.com). In India, there are happening traditional festivals that also increase the sales of gold jewellery (source: Metalsdaily.com). Central banks say the price of gold is increasing demand for it (source: Schwabnetwork.com). According to Fxstreet.com, the price of the metal may drop to $1,900 an ounce, but this is likely to increase demand for the metal even more.
 
The price of silver also fell. It is currently trading at $22.34 an ounce. Uk.investing.com says that silver has fallen due to a stronger US dollar. However, this situation will definitely be temporary. Experts say that the demand for silver will double in more than one sector, so it is natural that the price of the metal may rise as well (sources: Schiffgold.com, Silvertinstitute.com). Investinghaven.com predicts that silver could cost as much as $34.7 an ounce next year.
 
The price of palladium has fallen again, currently trading at $988.91 an ounce. Platinum is keeping up with this week's trends, currently trading at $871.82 an ounce. Experts ask rhetorically: "How much further can the value of palladium fall?" (source: Sfa-oxford.com). And it can certainly still decrease: the metal, which was once very necessary in the car manufacturing sector, is currently losing its demand (source: Mining.com). Reuters.com says that there will be a surplus of palladium next year, which could portend further declines in the price of the metal.
The price of platinum, although it is falling, according to experts, is still stable and does not yet see any more significant changes for this metal (source: Economies.com).
Auto News: New car sales in China grew by 9.1% year-to-date (source: Steelorbis.com).
 


 
The price of copper has decreased slightly and is currently priced at $8,077.3 a tonne. Mining.com says this drop in price is temporary and China plans to invest more in copper again.