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News

Rugsėjo 9, 2020

Volatility in the precious metals market is being felt again, with prices for many metals falling this week. The change in values has not been particularly drastic, but weekly price fluctuations give investors a sense of uncertainty. One of the main reasons for this is the volatile position of the US dollar (source: Metalsdaily.com). However, when metal prices fall, this is a convenient time to invest cheaper, as the metals have a bright future in the long run.
The price of the yellow metal dropped to $ 1930.07 an ounce. The volatility of the price of gold is mainly influenced by the US dollar - at the moment it is not very clear in which direction it will move (source: Bnnbloomberg.ca). Still, experts believe that this reduced price is worth taking advantage of, because the price of gold will definitely rise next year. Sbma.org.sg says that the value of gold could exceed $ 2,500 an ounce next year.
 
The price of silver has also fallen - it currently costs $ 26.92 an ounce. Both gold and silver are highly related metals, so their price trends are often similar. The fall in the value of white metal has also been affected by lower imports to China over the past month (source: Sharecafe.com.ua). But silver should also have a good next year, with prices expected to rise to $ 30 an ounce (source: Fxstreet.com).
 
The price of palladium rose to $ 2,310.4 an ounce, while platinum fell to $ 917 an ounce. The decline in the price of platinum is influenced by the strengthening US dollar and the effects of the coronavirus on world markets (sources: Uk.investing.com, Fxstreet.com). Still, Prnewswire.com says that platinum is receiving more attention from investors and the price of the metal should recover.
It is important to mention that a critical deficiency of some metals, such as palladium, is felt. As a result, the price of this metal continues to rise (source: Spglobal.com).
Car sales are slowly recovering, but insignificantly. Whatever they were before the coronavirus, it is estimated that it will take five years for China to recover and two years for the United States (sources: Carscoops.com, Auto.econimictimes.indiatimes.com).
 


 
Copper price grows for the second week in a row - it currently costs $ 6,753.86 a tonne. Demand for copper continues to grow in China, and imports of this metal have also increased (source: Mining.com). It seems that the value of the metal should stay in this strong position lately.