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News

Lapkričio 17, 2021

Almost all metals, except copper, have risen this week. The rise in the prices of many metals has been considerable compared to recent weeks, when values have remained in fairly similar positions. Metalsdaily.com says that rising inflation could push up prices of some metals. It is worth mentioning that after the term inflation crisis lies many other factors, like the coronavirus, the rise in oil prices, the shortage of car chips and so on. It is not easy to predict what will happen on the next year, but by the end of this year metal prices should look good.
The price of gold rose to $ 1862.55 an ounce. Experts say that gold price rises due to the growing threat of inflation (source: Dfw.cbslocal.com). Because of the same reason the US dollar also grows. According to Reuters.com, the value of the yellow metal is expected to grow during the holiday period. The price of the metal is expected to rise to $ 1,922 an ounce first, and then to $ 2,000 an ounce (source: Fxstreet.com).
 
The value of silver rose to $ 25.08 an ounce. Secure.wealthdaily.com says that the demand for silver has been growing rapidly recently. The demand and price of the metal should not decrease during the holiday period either (source: Finance.yahoo.com). The price of silver is forecast to rise to $ 25.6 an ounce in the near future (source: Fxstreet.com).
 
The price of palladium rose to $ 2,154.73 an ounce. The price of the metal seems to be making its way forward. Although demand for the metal in the automotive segment has fallen sharply, this increase in value is also driven by fears of inflation (source: Metalsdaily.com). Fxstreet.com predicts that the price of palladium could rise to $ 2,180 an ounce.
The price of platinum has also risen. The metal currently costs $ 1,094 an ounce. The price of the metal is expected to rise further in the coming month, as demand for it in the jewellery segment will increase significantly during the festive period (source: Metalsdaily.com). Economies.com estimates that the value of platinum should rise slightly to $ 1,105 an ounce.
Nothing is new yet in the automotive segment - production has slowed down, the chip crisis is not diminishing, and the number of potential car buyers is increasing.
 


 
The price of copper has dropped slightly to $ 9583.94 a tonne. In the middle of the week, the price had risen above $ 9,900 a tonne, but then fell sharply. This fall in prices is temporary - in the long run, the metal is projected to have a bright future and value growth (source: Mining.com).