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News

Spalio 14, 2020

Only the price of platinum performed poorly this week – the prices of all other metals rose. It can be seen that for some time metals’ prices have been very volatile in recent months, so anything can happen in the coming weeks: precious metal prices will either rise or fall. Still, this year should end with fairly high values of precious metals.
The price of the yellow metal rose to $ 1924.76 an ounce. According to In.reuters.com, gold is now stable, although the US dollar has started to strengthen again, and the beginning of inflation has been felt. During the crisis, as previous experiences have shown, the price of gold will remain high and demand will increase further (source: Cnbctv18.com). Fxstreet.com estimates that the price of gold will exceed $ 2,000 an ounce by the end of the year.
 
The price of silver rose to $ 25.16 an ounce. White metal should have a bright future: Dailyforex.com believes that the price of the metal is ready to rise. Kitco.com says that the growth rate of silver will surpass gold in the near future. However, some experts believe that the recovery in the value of silver should be viewed with caution, as the price of the metal has fallen in recent weeks (source: Uk.Investing.com). Fxstreet.com believes that the value of this metal will remain similar to the current one for some time and it will be seen in the future how it will continue to change.
 
The price of palladium rose to $ 2,416.32 an ounce, while platinum fell to $ 880.79 an ounce. Heraeus.com says that so far, the future for both metals should be bright as demand for diesel cars has increased. Platinum is a cheaper investment with a positive potential, while palladium is safe and with a guaranteed higher return. So, it is worth assessing all the risks before choosing a metal for investment.
Car sales in China shone in September, while the sales in other countries are rather sluggish (source: Bloomberg.com, In.reuters.com). It is important to mention that sales of electric cars are expected to triple by the end of the next year, and there is already a shortage of these new cars in the UK (source: Thedriven.io).
 


 
The price of copper grew sharply this week - it currently costs $ 6,704.7 a tonne. The need for metal is still high, but some mines work slower due to workers’ strikes (source: Mining.com). However, in the near future the price of the metal may fall slightly and then stabilize.