All precious metals’ prices rose this week. And metals’ values are likely to continue to rise as the coronavirus does not withdraw from the major states. Some precious metals are becoming a safe investment, and their demand expands. Other metals are used in production, and their shortage is felt due to slower mining operations (source: Metalsdaily.com).
The price of gold rose to $ 1,786.77 an ounce. According to Sprott.com, this is the highest value of the metal since 2012. Investors are rapidly increasing their holdings of yellow metal, another reason for the rise in the value of gold (source: Reuters.com). It looks like the price of gold could rise as high as $ 1,900 an ounce by 2021 (source: Forexlive.com). Nasdaq.com urges not to be afraid to invest in the yellow metal during this period, as its price will definitely rise.
 
The price of silver has risen quite sharply this week - it currently costs $ 18.33 an ounce. Bullionvault.com says that the price of white metal could exceed $ 20 an ounce this year. Investing in silver is definitely worth it - it is inexpensive, the demand never decreases due to its widespread use and it is likely that it may reach its record value this year (source: Investingcube.com).
 
The price of palladium has finally risen to $ 1952 an ounce. However, the metal is now in a similar price position and it is still difficult for experts to decide where its price will go this year (source: Metalsdaily.com). However, the economic crisis will occur in many countries this year, which should increase the prices of both palladium and other precious metals.
The price of platinum rose to $ 836.95 an ounce this week. Kitco.com says that it should come as no surprise that the price of platinum will remain in a similar position this year. It may even fall a little in the autumn.
Zerohedge.com says that car sales in China fell by 37% in the last week of June. Compared to 2019, global car sales also declined significantly (source: Quint.com). If the pandemic and the economic crisis recede, car sales should recover gradually.
 

 
The price of copper does not stop growing - it currently costs $ 6063.15 a tonne. The price of copper is likely to continue to rise as the virus spreads among miners, and the need of the metal grows: for example, in Chile thousands of workers have been infected with the virus (source: Mining.com). Meanwhile, a new mine is being built in the Democratic Republic of Congo - this Kakula project is moving quite fast.