Gold and silver prices fell the most this week. Palladium with platinum has kept its values quite constant, and copper has even risen. Although the beginning of the year seemed to show positive changes in the precious metals market, now it lacks stability. Themarket.ch predicts that inflation is already approaching. How big it will be or whether there will be major changes in the precious metals market it is still difficult to predict.
The price of the yellow metal fell to $ 1847.55 an ounce. As it can be predicted, this situation is influenced by future inflation risks (source: Reuters.com). However, the price of gold was really good at the beginning of the week, so if it does not continue to fall next week, we can expect positive changes and use the current situation to buy gold. Fxstreet.com says that the price of gold is likely to rise by no more than $ 2,000 an ounce this year. However, experts from Seeitmarket.com believe its value could grow as high as $ 3,000 an ounce. At the beginning of the year the forecasts are different, so it remains to observe the rapidly changing situation.
 
The price of silver has fallen sharply - it currently costs $ 25.08 an ounce. However, the situation may be temporary: experts from Fxstreet.com say that silver and copper should maintain more stable prices this year and be more attractive to investors than gold. The uses of silver are expanding greatly, and over the past year we have seen that the metal has kept its price quite steadily. Kitco.com has published a poll where investors voted / predicted what the price of silver will be at the end of this year. Average: $ 38 an ounce, the most popular answer: $ 50 an ounce. Still, there’s still plenty of time to watch how the price of the metal will change, but investors seem to be hoping for a good year.
 
The price of palladium fell slightly to $ 2391.04 an ounce and platinum to $ 1057 an ounce. Palladium should maintain its similar price during this period without major deviations. However, when people will start traveling and buying new cars after the pandemic, the need for palladium will rise, as will its price (source: Barrons.com). Platinum, meanwhile, is affected by the strong US dollar (source: Economies.com). However, the widespread use of this metal and the growing demand should not significantly reduce its value this year (source: Miningweekly.com).
 

 
The price of copper rose to $ 8000.13 a tonne. The price of the metal was even higher at the beginning of the week, so steady growth can certainly be expected in the near future, when the demand for the metal is still growing (source: Mining.com).