Prices of all precious metals (except palladium) rose this week. However, the situation may change somewhat: without a pandemic, relations between the US and China are still strained, record protests against racial inequality are happening in the US (source: Metalsdaily.com). However, if prices fall, it should not last long - the values of the metals should continue to maintain their strong positions.
The price of the yellow metal rose to $ 1,742.23 an ounce. Fxstreet.com believes that the value of gold may fall during this period. However, other experts think the opposite - this time is very favorable for the gold price rise (source: Zerohedge.com). Experts from Mining-journal.com are urging investors to have more confidence in gold.
Pandora, one of the largest jewelry manufacturers, is sending an eco-friendly message – they are using recycled gold and silver for its products (source: Bnnbloomberg.ca).
 
The price of white metal rose quite significantly this week, to $ 18.34 an ounce. This is its highest price in three months (source: Investingcube.com). The value of this metal began to grow quite sharply due to the increased demand for the metal in production, especially in the market of solar systems (sources: Silverinstitute.org, Mining-journal.ca, Investopedia.com). Juniorminingnetwork.com says that the price of silver could rise another 16% this year.
 
The price of palladium has dropped very slightly to $ 1976 an ounce. The price of platinum rose to $ 865.19 an ounce. There is a shortage of both metals not only for the manufacturers who use the metals, but also for the mines (source: Brecorder.com). The deficit usually leads to a rising price of metals. Marketwatch.com says that while the price of palladium is falling, it certainly isn't affordable for everyone. The value of this metal is likely to remain high for some time.
China's car market is slowly recovering, with sales rising over the past two months (source: Uk.reuters.com). Still, U.S. car sales fell 33% in May, the worst year for the market since 2009 (source: Zerohedge.com).
 

 
The price of copper continues to rise - it currently costs $ 5,480.69 a tonne. Mines are returning to work, and some are planning to develop new mine projects (source: Mining.com). However, it is important to mention that this pandemic has negatively affected not only the profits of the mines, but also there is the risk of metal surplus.