Significant changes in the precious metals market - the prices of all precious metals are increasing, and some are even very significant. Mining.com says that central banks are investing more intensively in precious metals at the moment - the source does not rule out the effects of inflation on this action. It is precisely because of the growing demand for metals that their value increases. We will see how long this period will last.
The price of gold is growing rapidly. It is currently trading at $2,338.02 an ounce. Think.ing.com says that gold is breaking new price records. And it seems that this is not the end. According to experts, the value of the metal may soon rise to $2,500 an ounce (source: Proactiveinvestors.co.uk). Xetra-gold.com says that the most expensive investment now is physical gold. Looking at the long-term perspective, it is positive for gold, with prices expected to reach as high as $3,000 an ounce this year (source: Forbes.com).
 
The price of silver is also increasing. It is currently priced at $27.88 an ounce. According to Proactiveinvestors.com, this is one of the highest values for the metal in the last five years. Experts do not even doubt that the price of silver will soon exceed $28 an ounce (source: Fxstreet.com). India's silver imports are forecast to grow by 66% this year (source: Finance.yahoo.com). Well, in the long term, silver can be expected to rise above $30 an ounce this year (source: Fxempire.com).
 
Palladium is up slightly, currently trading at $1,053.02 an ounce. Platinum is also keeping up with the trend, currently trading at $966.66 an ounce. Heraeus.com says that car sales in China have been slowing at the start of this year, prompting the government to make efforts to boost sales. However, it is likely that increased sales will not affect the price of palladium, which is constantly fluctuating.
Economies.com says that platinum is already starting to recover during this period. However, so far, forecasts for this metal are varied and investors are still monitoring the situation in the market, as there are forecasts that the demand for the metal may decrease (source: Heraeus.com).
 

 
This week's price record holder is copper. Its price has even risen to $9419.91 a tonne. This is the highest value of the metal in 14 months period. The reason for this sudden growth is the increased demand for the metal. Experts say copper is entering a new phase (source: Mining.com).