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News

Spalio 6, 2021

This week's changes in the precious metals market are not very significant - the prices of some metals remained in a similar position or rose minimally, while others fell slightly. Metal prices can be expected to remain similar in the coming weeks, but anything could happen because of many reasons: rising unemployment in the US, spreading inflation and coronavirus, and other crises that have a direct impact on changes in the prices of certain metals (source: Am.jpmorgan.com).
The price of gold rose to $ 1769.66 an ounce. Forecasts for the yellow metal are twofold: experts believe the price of gold will fall as the US dollar has been strong recently (sources: Cnbc.com, Reuters.com). According to Fxstreet.com, the value of gold should fall below the $ 1,750 an ounce threshold. But there are those who think otherwise. Fa-mag.com says that gold remains an attractive investment, and the price of the metal may recover strongly at the end of the year.
 
The value of silver remained the same as in the last week at $ 22.65 an ounce. So far, the silver price graph, according to experts, does not look promising. Finance.yahoo.com says, that white metal is struggling to regain its high value, although the US dollar has not risen sharply this week. According to Fxstreet.com, the price of silver should not fall below the $ 22.4 an ounce threshold, but if it rises above $ 22.9 an ounce, it will be a sign of further metal price increases.
 
The price of palladium dropped to $ 1926.52 an ounce. Platinum also fell slightly to $ 973.54 an ounce. It is not news that the chip shortage crisis is having an impact on the decline in the values of these two metals (source: Kitco.com). The price of palladium is expected to remain in a similar position, with platinum ranging between the $ 910-970 an ounce range (source: Economies.com).
Car sales have fallen worldwide, including in the US and Germany, where large volumes of new cars are produced and sold (sources: Edition.cnn.com, Icis.com, Eu.usatoday.com). Interestingly, automaker Ford's sales showed signs of recovery, but still fell by 27.4% comparing with the same quarter of the last year (source: Cnbc.com). A quick recovery is not to be expected.
 


 
The price of copper fell to $ 9231.86 a tonne. The decline in the value of the metal is not significant, and the price may recover next week, as the demand for copper in the market has neither fallen nor increased too much (source: Mining.com).