All precious metal prices fell this week. This was mainly due to two factors: rapidly expanding inflation and the rising US dollar (sources: Bnnbloomberg.ca, Investing.com). However, this fall in prices should be temporary - experts believe that metal prices will rise in the long run (source: Metalsdaily.com).
The price of gold fell to $ 1785.15 an ounce. According to Fxstreet.com, the change in the price of the yellow metal was mainly influenced by the strengthening US dollar and inflation. Interestingly, in India, where the demand for gold jewelry was always high before the pandemic, the demand declined, although quarantine conditions are easing everywhere (source: Economictimes.indiatimes.com). Investing.com says that the price of gold should stabilize at $ 1,900 an ounce this year. Etftrends.com predicts that the next 10 years should be favorable for gold.
 
The price of silver has dropped quite significantly - it currently costs $ 25.99 an ounce. However, this fall in prices seems to be an opportunity for investors to think about expanding investment in silver - experts agree that demand for the metal will grow, as will its price (source: Finance.yahoo.com). According to Wmleader.com, the price of silver should stabilize at $ 27 an ounce over the next few months. In the long run, the value of silver should exceed $ 30 an ounce as demand for the metal grows rapidly in the renewable energy industry (source: Proactiveinvestors.com.au).
 
The price of palladium dropped to $ 2601.11 an ounce. The price of platinum decreased to $ 1,064.82 an ounce. According to Fxstreet.com, the price of palladium is still fairly stable, but it should come as no surprise that it will fall to $ 2,500 an ounce in the near future. In the long run, the value of palladium will still be high. Bullionvault.com says that the widespread use of platinum in various industries is growing strongly, so the price of the metal should potentially increase in the future. For now, it shouldn't fall below the $ 1,000 an ounce limit (source: Economies.com).
Automotive news: Globaltimes.cn says that China's automotive sector is expected to grow 10% this year. And this equates to an increase in the demand and values for platinum and palladium.
 

 
The price of copper continues to fall. It currently costs $ 9,326.66 a tonne. Still, the price of the metal should recover again. According to Mining.com, the increase in the value of copper was only temporarily stopped - the price increase can be expected again as the demand for the metal in China recovers.