Almost all precious metal prices have risen this week. Lately, this is a rather rare phenomenon. However, it is still difficult to predict whether this price increase will be stable until the end of the year - in the event of stagflation, the changes may be various (source: Kitco.com). The rise in the value of metals was also influenced by the falling US dollar exchange rate (source: Reuters.com).
The price of gold rose to $ 1,764.61 an ounce. The future of yellow metal is so far vague. According to Fxstreet.com, the value of gold should not rise again. Experts from Coininvest.com say that the price of gold has reached the point where it should fall. Central banks want to buy more gold; a possible option that they are waiting for the price to fall in order to increase their reserves cheaper (source: Metalsdaily.com). The demand for the metal is not decreasing among all consumers either: in India, for example, it has risen sharply (source: Gold.org). After all, gold is a reliable investment - after the fall in prices, growth can be expected in the future.
 
The value of silver rose to $ 23.21 an ounce. Finally, the price of white metal has recovered - a bright future is predicted for it. Fxstreet.com says that the value of the metal should rise to $ 24 an ounce. Experts from Economies.com believe that the price of the metal will be in the range of $ 23.15-24 an ounce in the near future, but may rise slightly in a few weeks.
 
The price of palladium dropped to $ 2023.88 an ounce, and the price of platinum rose to $ 1,042 an ounce. The chip crisis in the car market has not disappeared, which has a major impact on both metals, especially palladium, where most of it is used in car production (source: Heraeus.com). Russia's major mine Nornickel has even announced a competition to encourage scientists to find ways to use palladium more widely (source: Reuters.com). Investing.com predicts that palladium will cost $ 2025-1950 an ounce in the near future. Platinum, meanwhile, is known to be a much more widely used metal, especially in renewable energy, where demand for the metal is growing strongly every year (source: Platinuminvestment.com). However, it is still difficult to predict whether the price of platinum will rise significantly - it is expected that it will remain in a similar position (source: Moneyweb.co.za).
 

 
The price of copper rose to $ 10,355.11 a tonne. This is a very strong price jump compared to previous weeks. The reason for the price increase is simple - demand exceeds supply, a shortage of copper is felt (source: Mining.com). It can be expected that the price will not decrease next week either.