Metal recycling and recovery

Phone: +370 37 408013

info@novitera.lt

Sausio 16, 2024

In the middle of the first month of this year, it is already possible to notice which metals are holding steady and which are having a harder time. Some metals are less affected by geopolitical challenges than others. Naturally, during this period, investors choose very carefully what to invest in - usually time-tested investments win. The US dollar is struggling right now, with the US presidential election coming up, so it's worth watching to see how those changes will impact precious metals prices (source: Dailyfx.com).
The price of gold is quite stable. It is currently trading at $2,054.22 an ounce. Gold has been a metal that investors have trusted for years, not only maintaining its value, but also increasing its value during the most difficult times. Jewellermagazine.com says that the demand for gold jewellery has grown strongly. However, experts see gold prices falling to $1,875 an ounce starting next week (source: Au.investing.com). Mkspamp.com predicts that the price of the metal will fluctuate between 1900-2200 an ounce this year.
 
The price of silver remained in a similar position. It is currently trading at $23.18 an ounce. Nxtmine.com claims that by 2026 Mexico may run out of silver reserves, so there will be a shortage of the metal if no new mines come up. Experts believe that silver is still an attractive and inexpensive investment - they recommend investing in it this year as well (source: Bignewsnetwork.com). Silver will average $25 an ounce this year, while the metal may range between $21.5-$30 an ounce (source: Mkspamp.com).
 
Palladium continues to decline, currently trading at $980.21 an ounce. Platinum also fell, currently trading at $917.1 an ounce. As the demand for environmentally friendly vehicles grows, the demand for palladium decreases (source: Heraeus.com). Experts predict that palladium will average $1,000 an ounce this year, with a price range of $800-$1,350 an ounce (source: Mkspamp.com). Demand for platinum in the jewellery sector is forecast to grow (source: Heraeus.com). Mkspamp.com says that palladium will average $1,050 an ounce this year, with a range of $800-1,200 an ounce.
 


 
The price of copper has fallen and is currently at $8,286.74 a tonne. Still, the future of metal is bright. Its production is forecast to grow by 5.8% and demand by 3.2% in the coming years (source: Mining.com).