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News

Kovo 3, 2021

Spring began with a fall in all precious metal prices. Recently, the situation has not been certain - the values of metals have fluctuated every week. It is also affected by rising inflation, the effects of the coronavirus and the rising US dollar (source: Fxstreet.com). Predicting what will happen next week or in the near future is difficult. One can only be sure that those metals that have slowly increased their price and kept it in a stable position for a long time should not fall sharply.
The price of gold fell to $ 1,724.92 an ounce. The positive predictions promised by reviewers at the beginning of the year no longer make sense - the price of gold may not exceed $ 2,000 an ounce this year. Australianminig.com.ua says that by the end of the summer it will be clearer in which direction the price of gold will turn. Another reason for the falling price of gold is that investors sell their gold while its price is still satisfactory (source: Fxstreet.com). This period is also not easy for gold mines, and considerable losses are calculated (source: Investing.com).
 
Silver fell to $ 26.54 an ounce. Forecasts are favourable for this metal - its price is expected to recover soon (source: Fxstreet.com). Born2invest.com says that there is still a shortage of silver, which is a good sign for investors. Silver production is expected to rise 8.2% this year (source: Miningreviews.com).
 
The price of palladium dropped to $ 2369.15 an ounce and platinum to $ 1196.63 an ounce. Nornickel, which is responsible for 44% of the world's palladium supply, has shut down its two mines due to technical difficulties - it is likely that there will soon be an even greater shortage of the metal so its price should recover soon (source: Heraeus.com). Miningweekly.com says that the demand for platinum jewellery is growing, which is a good sign to keep the metal price stable. Platinum is also increasingly used in the production of hydrogen-powered vehicles (source: Lbma.org.uk). In general, experts believe that platinum will maintain a value of just over $ 1,000 an ounce in the coming weeks (source: Heraeus.com).
 


 
Copper price on February 24th was $ 9,500 a tonne, but now it has fallen to $ 9,195.48 a tonne. According to the metal price graph, it can be seen that its price is still recovering. Demand for copper remains high, so its value is likely to rise again next week (source: Mining.com).