As it was expected, precious metal prices have finally risen compared to the last week. Only the value of palladium plummeted. It seems that the prices of many metals should rise by the end of the year, as the US dollar shows no signs of strengthening and the coronavirus is also not going anywhere. Of course, there is a good chance that an effective vaccine against this virus will be available soon, but as long as it is not available, the prices of precious metals are safe.
The price of the yellow metal rose to $ 1889.79 an ounce. Not surprisingly, the price of gold is recovering - all the conditions are right for now. Reviewers from Centralbanking.com say that the increase in the value of gold is greatly influenced by the coronavirus period. Fxstreet.com says the price of gold is now a bit stagnant but should jump up. Experts from Miningweekly.com summarize that gold mining is set to grow dramatically over the next decade.
 
The price of silver has also risen to $ 24.82 an ounce. Insidermonkey.com recommends investing in silver now: US President Joe Biden is likely to drive a technological breakthrough, and silver is widely used in a variety of technological fields. Naturally, its price will have to rise. Lombardiletter.com believes that it should come as no surprise that the price of silver could rise to as high as $ 50 an ounce in the very near future.
 
The price of palladium fell to $ 2,341.64 an ounce, while platinum rose to $ 930.83 an ounce. Although the value of palladium has fallen this week, that doesn’t mean it will continue to fall. Prnewswire.com says that the demand for palladium in car manufacturing continues to grow, so the value of the metal can be expected to increase as well. It is important to mention that even in this time of crisis, car sales are gradually returning to their original tracks, and in China they are even increasing (source: Menafn.com). But platinum is promised an even better future – it can already be seen how the price of the metal has risen sharply in just one week. This is also influenced by the desire of the new US president to move technologically forward - the demand for platinum should grow in both the technological and jewellery industries (sources: Professionaljeweller.com, Forbes.com).
 

 
The price of copper does not stop growing - it has now reached a record value of $ 7010.7 a tonne. Demand for the metal continues to grow, so the value is likely to continue to rise also (source: Mining.com).