Metal recycling and recovery

Phone: +370 37 408013

info@novitera.lt

News

Spalio 13, 2021

Precious metal values remained in good position this week: palladium, copper and platinum rose, while gold and silver fell very slightly. Reviewers say that stagflation is already taking place - a situation in markets with high inflation, high unemployment and economic stagnation at the same time (sources: Fxempire.com, Gold.org). It is worth observing whether the prices of precious metals will change significantly in this situation. It is possible that the values of the metals will remain fairly constant.
The price of gold fell to $ 1753.33 an ounce. Forecasts for the metal remain different. For example, the Central Bank of Poland in 2022 plans to increase its gold reserves by 100 tons (source: News.bitcoin.com). In India, the gold boom is not going away either - the demand for it is growing here, the metal is considered very valuable (source: Cfi.co). However, while stagflation is spreading, some experts believe that the price of gold may fall (sources: Abnamro.com, Brecorder.com).
 
The value of silver fell very slightly, to $ 22.57 an ounce. So far, the price of silver has stuck below $ 23 an ounce (source: Fxstreet.com). Nasdaq.com says that silver mining fell slightly in the third quarter of this year. According to experts from Fxempire.com, silver is still looking for its direction - it is still difficult to predict where its price will go; it is likely to remain in a similar position for some time.
 
The price of palladium rose to $ 2122.09 an ounce. Platinum also rose to $ 1013 an ounce. So far, demand for platinum has declined significantly due to the chip crisis, but Miningweekly.com predicts that by 2023 the demand for palladium will recover, as will its price. The price of platinum is rising as demand for the metal grows and fears of a larger metal deficit are increasing (sources: Capital.com, Simplywall.st).
News from the car market: new car sales are falling due to chip shortages. In China, new car sales fell 20% in September (source: Thestar.com). According to Wtvbam.com, sales of Japanese carmakers also declined.
 


 
The price of copper rose to $ 9530.14 a tonne. Global copper mining production will increase by as much as 7.8% this year, with a number of mine development projects underway (source: Mining.com). The mines are expanding rapidly as demand for the metal has not declined throughout the year, remaining in a strong position.