Precious metal prices have been steadily rising over the past few weeks, but it is common for prices to fall at some point. This was also the case this week, with most precious metals’ prices falling, but only marginally. Cnbc.com says that the military tension in the Middle East is affecting the changes in the value of metals. However, one can hope that these changes are temporary and that precious metal prices will recover in the near future.
The price of gold fell slightly. It is currently trading at $2,331.24 an ounce. Businesslive.co.za says that the geopolitical situation in the Middle East has the biggest influence on the movement of the gold price. However, experts believe that this change is temporary (source: Heraeus.com). Actionforex.com says that further forecasts for gold are positive. Experts also note that the price of gold has doubled in the last five years, so this metal proves a steady increase in its value (source: Dailynewsgypt.com). China continues its traditionally heavy investment in gold, being one of the largest and fastest-investing nations in the metal (source: Mining.com).
 
The price of silver also keeps up with the trends. It is currently trading at $27.28 an ounce. Fxstreet.com says that for now the value of this metal is in a bit of a tension and it is expected that it will not fall further. But future forecasts for this metal are favourable. Strong growth in metal imports from the United Arab Emirates is noticeable (source: Financialexpress.com). Over the past year, demand for silver in the solar power generation sector has increased by 64% (source: Asia.nikkei.com). Investingnews.com notes that the silver deficit will be one of the largest in the last 20 years, so it is likely that the price of the metal should rise as well.
 
Palladium also fell, currently trading at $1,016.76 an ounce. Heraeus.com says that the growing demand for hybrid cars in Europe may have a positive effect on the growth of the value of palladium, but a sharp increase in the price should not be expected.
Platinum fell to $922.13 an ounce. Economies.com says that this decline in platinum's value has no long-term impact. Interestingly, there is a significant demand for platinum in the heavy truck manufacturing sector (source: Heraeus.com).
 

 
Only copper rose this week. It is currently priced at $9,745.98 a tonne. This year there is a growing demand for copper in various technological sectors. Mining.com says that the price of the metal could soon rise to $10,000 a tonne.