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Lapkričio 11, 2020

Precious metal prices look quite good this week - many of them have risen. It can also be seen that prices had reached their highest position in the middle of the week, but today the graphs of some metals have fallen somewhat. This volatility continues to be affected by the coronavirus and its uncertain end date, as well as the end of the US presidential election; the new US president Joe Biden is expected to ease US-China relations (source: Metalsdaily.com). However, prices may recover again until the new year, so as long as prices have fallen, it is worth investing.
The price of gold fell to $ 1871.87 an ounce. The US dollar is weaker, the coronavirus is not disappearing - these phenomena should really help the price of the metal to recover (sources: Cnbc.com, Fxleader.com). Sharpspixley.com says that demand for gold in China has risen sharply over the past month. In the long run, the price of gold is expected to exceed $ 2,300 an ounce - it's worth thinking about investing while the value of the metal is still cheaper (source: Forexlive.com).
 
The price of silver rose to $ 24.26 an ounce. The future of silver is still uncertain - on the one hand, it holds a strong position in its value, but its price may fall rapidly when influential factors affect it (sources: Dailyforex.com, Fxstreet.com). Kitco.com forecasts that the price of silver will reach $ 26 an ounce by the end of this quarter, and $ 30 an ounce by the end of next year.
 
The price of palladium rose to $ 2,492.32 an ounce, and that platinum - to $ 877 an ounce. The price of palladium has risen sharply since the US presidential election, and its value is likely to continue to grow. The value of this metal is forecast to rise even above $ 2,700 an ounce, so investing now is very favourable (source: Invezz.com). Platinum is also predicted a bright future: if the price of this metal rises to $ 900 an ounce in the near future, it will be a sign that it is time to invest, because after that the price of the metal will definitely exceed $ 950 an ounce (source: Metalsdaily.com). Car sales during this quarantine period are quite good, and in China they are growing for the fourth month in a row (source: Pymnts.com).
 


 
The price of copper continues to grow surprisingly fast - it currently costs $ 6,930.67 a tonne. It is likely that the price of the metal may continue to rise - the demand for copper in China is not decreasing, the volume of imports is also increasing (source: Mining.com). A shortage of metal can be felt soon.