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News

Vasario 24, 2021

Precious metal prices look good this week - some have fallen slightly, others have risen quite well. The threat of inflation, the pandemic, the fluctuating US dollar - these and other factors have a significant impact on the volatility of precious metal prices. It is really difficult to predict how the prices of precious metals will change during this period, as we keep getting different changes every week during this volatile period.
The price of gold fell to $ 1809.55 an ounce. Outlookindia.com says that gold is still the most reliable investment in any crisis period. In China, the demand for gold jewelry has skyrocketed, but it is unclear how long it will last (source: News.cgtn.com). Sharpspixley.com says that the yellow metal should be stable this year, costing around $ 2,000 an ounce in the end of 2021.
 
The price of white metal rose to $ 28.23 an ounce. Economies.com says that silver has maintained a good price position in recent weeks due to its growing demand, it is not vulnerable to various economic factors. Investors, meanwhile, are waiting for silver to maintain its strong price position for at least a few weeks: investment in silver can be expected to increase in a few weeks (source: Fxstreet.com). Agabullion.com says that investing in silver during this period is definitely worth it, as it is not only a cheap but also a safe investment.
 
The price of palladium rose to $ 2,412 an ounce, while platinum fell to $ 1,281 an ounce. The palladium situation does not change - the metal will continue to gradually increase in value this year due to a persistent shortage (source: Metalsdaily.com). Platinum, meanwhile, has risen sharply in previous weeks, but has fallen this week. Demand for the metal is growing, and there is a shortage of it, but so far these factors have not led to an increase in prices, but, on the contrary, to a fall (source: Business-standard.com). Mining.com says that investors have slowed investment in platinum because such a sharp jump in the price of the metal is not reliable and does not seem safe - it is necessary for them to estimate how long the demand for the metal will grow in the markets.
New car sales in Europe are also not looking very good: it decreased by 25.7%, comparing this year’s January to the last year’s January (sources: Reuters.com, Sharecast.com).
 


 
The price of copper is growing non-stop - it currently costs $ 9234.5 a tonne. This is the highest value of the metal in the last 12 years (source: Mining.com). Fxstreet.com says that with such a large increase in demand, the price of copper could rise to as much as $ 12,000 a tonne in the near future.