While the economic and military tensions between some of the world's major nations are not waning, the rise in precious metal prices has stalled - the opposite was true last week. Gold and silver prices have fallen slightly, but palladium, platinum and copper have risen. Still, it should come as no surprise that this situation may change next week.
Yellow metal is now priced at $ 1,549.8 an ounce. Central banks are rapidly increasing gold reserves – this move is wise, as the economic crisis is gaining momentum and gold is a safe, valuable currency (source: Alt-market.com). When major world countries buy large quantities of gold, it is likely that this price will increase in the near future (sources: Voimagold.com, Scrapmonster.com). Bullionvault.com says that the price of gold could rise to $ 2,000 an ounce in the coming months.
 
The price of silver has dropped to $ 17.83 an ounce. Econotimes.com says that white metal is at its most constant price point. Still, Coinspeaker.com believes that silver is undervalued and should be priced higher. Silver is a widely used metal, just a little bit of time is needed when its value will increase (source: Internationalman.com).
 
Palladium has set a new price record, currently at $ 2195 an ounce (source: Investingnews.com). Platinum price also rose to $ 985 an ounce. How has palladium gained such popularity in the automotive industry? In the past, it was a much cheaper metal than platinum, although it did not exhibit better properties (source: Theassay.com). But the price of raw materials always affects manufacturers. Neither palladium nor platinum seems to be losing popularity in the foreseeable future - gasoline or diesel-powered cars will remain for a long time to come, so these metals will still be needed. In the jewellery industry platinum is now not very much bought but the situation can change at any time. This year, the price of platinum is expected to be between $ 860-1050 an ounce (source: Metalsdaily.com).
 
 
Copper price recovered quickly - currently at $ 6,265.54 a tonne. Mining.com says that copper has reached its highest value compared to the past eight months. Why the price grew so fast? Record metal demand from China appears to have a positive impact on copper value growth (source: Mining.com).