Metal recycling and recovery

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Gegužės 13, 2020

This week, all precious metals kept their prices constant, and some even raised them. It’s still hard to judge how prices will change in the coming weeks. The economic crisis is affecting more and more countries (source: Fxstreet.com). The second wave of the COVID-19 virus is approaching, which could lead to even greater job losses and a heavier economic burden on businesses (source: Uk.Investing.com). It’s worth watching how the situation will change in the near future.
The value of gold has remained fairly stable, falling by just a few US dollars since last week. The metal currently costs $ 1698.54 an ounce. The yellow metal looks quite positive. In China, for example, demand for gold has begun to grow (source: Brecorder.com). A survey taken by Economictimes.indiatimes.com concluded that gold still remains a stable, reliable and relatively easy-to-buy investment. It should come as no surprise that the price of gold can rise as high as $ 2,000 an ounce, so investing now is definitely worth it (sources: Fool.ca, Miningweekly.com).
 
The price of silver rose to $ 15.48 an ounce. The price of the metal seems to be recovering gradually from the previous stagnation (source: Fxempire.com). Kitco.com believes that silver still has room to grow and says it has the potential to really increase its price. Its value is expected to rise to $ 15.9 an ounce in the near future, and if this position will be reached fairly quickly, the price of the metal is likely to continue to rise (source: Fxstreet.com).
 
The price of palladium has fluctuated widely lately. Now its price has risen even to $ 1930.81 an ounce. The price of platinum has remained virtually unchanged at $ 770.22 an ounce. Business.financialpost.com says that there will be a shortage of both palladium and platinum this year, which should lead to higher values for both metals.
Looking at last month’s car sales, a positive recovery can be seen in China (sources: News.metal.com, Uk.finance.yahoo.com). If the second wave of the virus does not increase worldwide, car sales are likely to gain momentum. Naturally, the need for platinum and palladium will increase even more.
 


 
The price of copper is rising again - it currently costs $ 5,220.55 a tonne. The recovery in the workforce in China has led to a sharp increase in the demand for copper (source: Mining.com). This also has a direct impact on price growth, as copper mining has slowed due to the virus. It seems that the price of copper will not really fall lately.