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News

Liepos 29, 2020

July is likely to end with a positive trend, with prices for all precious metals (except copper) rising sharply. Of course, similar changes have been expected as the economic crisis does not go away, with the second wave of the coronavirus being announced in many countries around the world (source: Metalsdaily.com). In the coming weeks (probably even until the fall), metal values are set to continue to rise.
The price of the yellow metal rose at record high this week to $ 1947.22 an ounce. Finances.yahoo.com states that this is one of the highest values of this metal in a long time. Interestingly, the consumption of gold in China fell by 38.25% over the year (source: Thestandar.com.hk). However, there are several reasons for this: coronavirus with declining purchasing power and strained US-China relations. It should come as no surprise that gold is not highly bought in other countries as well - the reasons for this remain similar. Still, its price is rising as a potentially purchased investment.
Bnnbloomberg.ca says that the value of the yellow metal will definitely exceed $ 2,000 an ounce in the near future.
 
It seemed that the price of silver had already risen to a record high in recent weeks, until they saw the value of this metal rise this week - silver currently costs $ 24.93 an ounce. Fxempire.com says the metal has not reached such a high value for many years. Experts are urging investors to increase their silver stocks, which are expected to rise in price further in the near future (sources: Fool.ca, Marketwatch.com).
 
The price of palladium has risen sharply this week - it currently costs $ 2335.47 an ounce. Platinum is also not lagging behind - its price has risen to $ 959 an ounce. Miningweekly.com says that prices for both precious metals should rise soon.
Car sales are recovering (source: Just-auto.com). This also had a direct impact on the increase in palladium price (source: Fxdailyreport.com). Investing.com says that the value of platinum should also rise faster due to recovering car production and sales.
 


 
The price of copper has fallen very slightly - it currently costs $ 6417.22 a tonne. Some mines in South America are slowly recovering, but it is still difficult to predict whether the mines will continue to increase their work forces (source: Mining.com). The growing number of people with coronavirus could halt mines again, leading to a parallel rise in the value of the metal.