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News

Spalio 7, 2020

This week in the precious metals market is slightly better than the previous one - the prices of almost all precious metals have recovered. The fact that values are recovering slowly is not a bad sign. On the contrary, it is an opportunity for precious metals prices to strengthen their position. This week's rise in prices was driven by the fall of the US dollar and the US presidential election - while one of the strongest countries is electing its new leader, this gives some economies some insecurity (sources: Wisdomtree.eu, Finance.yahoo.com).
The price of gold rose to $ 1912.89 an ounce. It is no longer news that this metal is also closely related to changes in the value of the US dollar. As soon as the US dollar falls, gold rises (source: Uk.Investing.com). Gold imports are declining in India, with buyers expecting an even bigger fall in the price of the yellow metal (source: Finances.yahoo.com). However, there may be no such price drop - for example, Central banks are increasing their gold reserves again (source: Kitco.com). Fxstreet.com says that the value of gold could rise to as much as $ 2,200 an ounce over the next three months.
 
Silver currently costs $ 24.35 an ounce. Goldseek.com says that although the price of the white metal has fallen slightly, it is still the best quarter of the metal since 2010. Currently, the price of silver is stagnant - the value is neither falling sharply nor growing rapidly (source: Fxempire.com). But the good news is that investors are particularly interested in silver; this metal sold more than gold in the past month (source: Investing.com).
 
The price of palladium rose to $ 2374.57 an ounce, and platinum to $ 902 an ounce. Uk.Investing.com describes palladium as a safe investment. However, this should not be a long-term investment like gold, as the need for palladium in the future is still difficult to predict. Meanwhile, experts predict a positive future for platinum: the demand for this metal will definitely grow (source: Miningweekly.com).
Car sales are recovering in both the US and China (source: Techexplore.com). China had the highest number of car sales compared to previous quarters (source: Pledgetimes.com).
 


 
The price of copper continues to fall, currently costing $ 6,519.73 a tonne. Experts continue to say that the fall in the price of copper is temporary: after all, the price of this metal rose by a record during the pandemic (source: Mining.com). The same source states that this period will be favourable for all industrial metals - their demand will increase.