Metal recycling and recovery

Phone: +370 37 408013

info@novitera.lt

News

Gegužės 20, 2020

This week was favourable for precious metals - all prices rose, some even at a record high. It is likely that the value of metals could continue to rise during this crisis. Reviewers believe that there is no point in rushing to sell your investments now, as their prices will rise even more in the near future (source: Metalsdaily.com).
Yellow metal has probably reached its highest value in the last seven years (sources: Talk-finance.co.uk, Mining.com). It currently costs $ 1,734.33 an ounce. Demand for physical gold is growing, and central banks are constantly increasing its reserves (source: Fxstreet.com). In China, not only is the economy recovering, but so is the demand and price of gold (source: Gold.org). The value of the yellow metal is expected to continue to grow as it is a reliable and traditional investment in any time of crisis (source: Marketwatch.com).
 
Silver is not lagging behind either - its price has risen to $ 17.1 an ounce this week. Some experts believe that the value of silver could rise to as much as $ 22 an ounce during this tougher economic period (source: Kitco.com). However, Dailyfx.com says that after the end of the coronavirus, the price of white metal could fall sharply. But it looks like the virus won’t go away until the fall, so increasing investment in silver is still safe. How the price will change in the near future will become clear very soon.
 
This week, the price of palladium rose as high as $ 2010 an ounce. The price of platinum also rose to $ 825.24 an ounce. Slowly recovering economy in many countries seem to be increasing the demand for these metals, which automatically increases their prices (sources: Fxdailyreport.com, fin24.com). Reuters.com says that both palladium and platinum prices could rise to record levels this year.
New car sales in Europe fell 78.3% in April (source: Uk.reuters.com). But this does not negatively affect either palladium or platinum - these metals do not lose their popularity.
 


 
Copper does not lag behind other metals - this week and its price rose to $ 5335.19 a tonne. The need for copper does not change; it continues to grow as more and more countries are opening up. So far, not all mines have resumed their work - in some countries the virus is very widespread, so all the necessary security measures are taken (source: Mining.com). It should come as no surprise that the price of copper will continue to rise.