Metal recycling and recovery

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Lapkričio 25, 2020

There is no stability in the precious metals market - this week some prices have fallen, others – grew. Metals, which are more a tool for investment, less used in manufacturing, have not been raising their prices recently - it looks like it could fall further by the end of the year. However, those metals, which are widely used in the manufacturing, are not surprising that they continue to increase their value - their demand does not decrease, there is a shortage of some metals. The development of the coronavirus vaccine and its likely successful use contribute to all this phenomenon too (source: Metalsdaily.com). With the end of quarantine, things should get back on track, and the prices of some precious metals could fall further after that.
The price of gold fell to $ 1837.25 an ounce. The metal was stable at the beginning of the week, but today its value has fallen sharply. The future of the metal is not very bright: gold imports in China fell last month. (source: Nasdaq.com). Investors are also more cautious and not very bold in investing in this metal (source: Etfstream.com). Of course, the fall in prices is also influenced by the coronavirus vaccine (sources: Invezz.com, Bnnbloomber.ca). It looks like the price of gold could reach $ 1,800 an ounce in the near future (sources: Forexlive.com, Fxstreet.com).
 
The price of silver fell to $ 23.54 an ounce. The situation is similar to gold’s: the metal was stable at the beginning of the week, but today the price has fallen sharply. Forexcrunch.com says that this moment is critical for silver - if its price does not fall, then it is likely to grow. Experts from Fxempire.com believe that the price of silver could rise to as high as $ 25 an ounce in the near future, so it's worth considering investing. Silver, after all, is an inexpensive investment that is likely to grow over the years (source: Streetwisejournal.com).
 
The price of palladium rose to $ 2,362.22 an ounce during the week, while that of platinum rose to $ 932.21 an ounce. The price of palladium has been falling all week, but only today it has risen very strongly. Platinum, on the contrary, was quite expensive throughout the week, but today, like many metals, the price has fallen. Fxstreet.com says that the demand for platinum will increase significantly on the next year - there will be a shortage of metal. Forexlive.com recommends investing in platinum now. The future of palladium is not bad either - the metal is still recovering, and its shortage continues to be felt (source: Cfdtrading.com). But for how long, it depends; Europe once again thinks about decreasing the number of diesel and petrol cars, and China continues to move rapidly towards sustainable car development in the country (sources: Auto.economictimes.indiatimes.com, Arkansasonline.com).  
 


As it was expected, the price of copper rose again. It currently costs $ 7273.49 a tonne. The demand for copper continues to grow, and if the virus subsides, it may increase further. Mining.com says that the price of copper could rise further on the next year.