Metal recycling and recovery

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Gegužės 9, 2019

This week is almost the same as the previous one – the price of all precious metals is slowly falling down again. Only the price of gold has risen by few dollars, but it doesn't matter much in the overall context. The strong US dollar and the global economic crisis have a significant impact on the prices of precious metals. However, this period is particularly beneficial for investors.
Gold currently costs $1285.52 an ounce. Source Cnbc.com says, that gold is now very attractive to investors: a great opportunity to buy larger quantities of this metal. This year Russia is the leader in the amount of purchased gold (source: Pravdareport.com). Individual investors, as well as the major world countries that buy large amounts of gold, know that this is a great investment for the future – the price of gold is always recovering. According to Economictimes.indiatimes.com, gold should be higher by 15% on the next year.
 
Silver now costs $14.91 an ounce. According to experts from Valuethemarkets.com, what is happening with silver lately is not good. The white metal is not able to rebound in any way. However, other experts believe that if there will be more silver mines, this metal will recover fast, as its demand has grown significantly (sources: Wallstreetwindow.com, Kitco.com).
 
The price of palladium has fallen again – currently it costs $1332.01 an ounce. It should be not surprising that its value will decrease even more on the next year (source: Fp.brecorder.com). Meanwhile, platinum situation is not bad at all: although the metal price has fallen and is currently at $870.62 an ounce, it is more widely used than palladium. In India, there is a growing demand for platinum, and US chemists are testing the healing properties of this metal against cancer (sources: MedicalSpress.com, Bullionvault.com). The price drop for both metals is mainly influenced by the strong decrease in car sales worldwide (source: Cfo.com).
 


 
Copper costs less this week – $6,402.22 a tonne. The US-China trade war has a significant impact on the value of this metal. When the demand for copper is very high, each sanction has a relevant impact on its price fluctuations. Copper production in the Chilean Cochilco mine decreased in the first quarter, compared to the previous year. The good news: the Australian mine SolGold is investing in gold and copper searches in Ecuador (source: Mining.com).