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News

Rugsėjo 16, 2020

Precious metal prices are steady this week. Some have risen, others have fallen slightly. A similar scenario can be expected in the coming weeks, as the value of the US dollar fluctuates, the coronavirus does not disappear anywhere, and although metals are attracting investors' attention, obtaining and mining them is not always easy during this period (sources: Metalsdaily.com, Finance.yahoo.com).
The price of gold, albeit slightly, rose to $ 1957.34 an ounce. Uk.reuters.com says that investors’ interest in the yellow metal has declined somewhat at the moment. This is not surprising, as the crisis period has lengthened, and its end is not yet clear. However, the metal sees a great future in the coming years, with prices expected to rise to $ 2,400 an ounce (source: Fxstreet.com).
 
The price of white metal has also risen - it currently costs $ 27.17 an ounce. Fxempire.com says that silver is now in a fairly strong price position. Experts emphasize and promise a positive future for this metal - albeit slowly, its price will certainly rise in the near future (source: Metalsdaily.com). Fxstreet.com predicts that if the price of the metal rises to $ 28 an ounce in the near future, then even faster growth can be expected.
 
The price of palladium rose to $ 2,321 an ounce, and the price of platinum to $ 964 an ounce. Experts say that platinum is currently receiving a lot of attention from investors (source: Fxempire.com). The main reason for this is the affordable price of the metal (source: Govettpreciousmetals.com). It is important to mention that platinum is an extremely widely used metal, so if investors’ interest continues to grow, its price could rise. Palladium, meanwhile, is in a stable position - both its demand and the shortage of the metal itself remain unchanged.
In China, car sales have recovered a bit (source: China.org.cn). The state has also announced that it will promote sales of hydrogen-powered vehicles (source: Nasdaq.com). But overall, car sales around the world are expected to recover only in 2025 (source: Thisismoney.co.uk).
 


 
The price of copper has fallen slightly - it currently costs $ 6739.09 a tonne. The demand for copper in China continues to grow. Some mines do not stop expanding even in this time of crisis - for example, large mine development projects will take place in Ecuador and Zambia (source: Mining.com)