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News

Sausio 5, 2022

Almost all precious metal prices have fallen this week, with only copper rising slightly. However, it can be seen that the price reductions are not significant. According to Sharpspixley.com, the main factors influencing the value of precious metals are the high value of the US dollar and rising inflation. These factors will certainly not go away for some time, so metal prices should not change in the near future (source: Fxempire.com).
The price of gold fell to $ 1804.35 an ounce. Experts believe that this new year for yellow metal will be a success (source: Assets.bbhub.io). According to Bullionvault.com, the value of the metal remains really good during this volatile period. It can be said that gold will definitely not lose its popularity this year as well, with the possibility that its price will also rise. India, for example, spent a record $ 55.7 billion on gold imports last year (source: Econmictimes.indiatimes.com).
 
The price of silver dropped to $ 22.92 an ounce. This year should be profitable for white metal. Silverinstitute.org says that demand for silver will increase in more sectors. According to Home.saxo, the value of silver is set to rise this year. Fxstreet.com predicts that the metal could cost $ 24 an ounce in the near future.
 
The price of palladium dropped to $ 1842.18 an ounce. The future of the metal is still uncertain - it is still difficult to fully predict whether the crisis in the automotive sector will disappear this year. Gulfnews.com says that car sales in China are falling. Eu.detroitnews.com says that car sales will not grow in the US in the near future. Still, Theedgemarkets.com predicts that there is hope the situation will improve in the second half of this year.
The price of platinum has also fallen. The metal currently costs $ 966 an ounce. Still, the platinum situation is not bad. Economies.com says that the value of platinum looks positive and could rise to $ 1,000 an ounce. Menafn.com predicts that there may be short-term increases in the price of platinum this year.
 


 
The price of copper rose to $ 9865.25 a tonne. In China, the capacity of factories in various sectors is increasing again, so the demand for copper is naturally growing (source: Mining.com). However, copper is sensitive to changes in the US dollar exchange rate - if the exchange rate continues to rise, the price of copper may fall.