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News

Lapkričio 3, 2021

Precious metal prices remained fairly stable this week, with some falling minimally, others rising just slightly. With only a few months to go until next year, there should be no stronger changes in the precious metals market, as the risk of inflation is also rising (source: Independent.co.uk). However, according to Heraeus.com, investors are not afraid to invest during this period.
The price of gold fell to $ 1792.7 an ounce. Etftrends.com says that the price of gold is expected to rise this month, especially as inflation spreads. Investor interest in gold remains stable, and mining has also increased during this time (source: Heraeus.com). All that remains is to watch how the price of the metal will change over the coming weeks.
 
The value of silver fell to $ 24.05 an ounce. According to Fxstreet.com, the price of silver is still in a fairly strong position, when there are a number of factors that can negatively affect the change in the value of the metal. However, experts predict that November will not be the best month for silver (sources: Investing.com, Heraeus.com). Finance.yahoo.com predicts that the price of silver will rise when the US dollar falls.
 
The price of palladium dropped to $ 2061.19 an ounce. The future of the metal is not yet bright - its demand has fallen by as much as 80% due to the chip crisis (source: Heraeus.com). Still, it is expected that during the next year everything will gradually return to the previous situation, when the demand for palladium was high. Forecasts are that palladium will cost $ 2050 an ounce by the end of the year, in the first quarter of 2022 – $ 2150 an ounce (source: Finance.yahoo.com). However, the chip crisis could continue for more than a year, and the price of the metal could fall even more sharply.
The value of platinum rose minimally to $ 1,066 an ounce. Economies.com says that platinum is recovering. According to En.israelidiamond.co.il, the demand for platinum jewellery is growing. Due to the chip crisis, demand for platinum in the automotive sector has fallen by 40% (source: Heraeus.com). By the end of the year, the price of platinum should not fall below $ 1,000 an ounce, and in the first quarter of next year the metal could cost $ 1,110 an ounce (source: Finance.yahoo.com).
 


 
The price of copper has fallen again - it currently costs $ 9,656.91 a tonne. In Chile, copper mine workers are on a strike again, which equates to stalled work and copper shortages (source: Mining.com). In China, copper demand remains stable enough for the time being.