Metal recycling and recovery

Phone: +370 37 408013

info@novitera.lt

Kovo 30, 2022

The changes this week are a bit different than expected - the prices of precious metals, although slightly, are falling. Evaluating the graphs of precious metal values, it can be noticed that the fall has taken place in the last few days, so it can be expected that the situation will change in the opposite direction this week. This drop in prices is also happening because there is a hope that the war between Ukraine and Russia will end sooner (source: Fxstreet.com). Meanwhile, the US dollar exchange rate and demand are growing strongly during this period (source: Uk.news.yahoo.com).
The price of gold fell to $ 1924.29 an ounce. Fxstreet.com believes that when demand for the yellow metal is currently on the rise, investors will take advantage of the fall in prices and buy gold. Interestingly, the fall in the price of gold this time is also affected by the growth of the US dollar (source: Uk.news.yahoo.com). Another interesting fact: reviewers think that Russians may be trying to circumvent sanctions by paying in gold (source: Markets.businessinsider.com).
 
The price of silver dropped to $ 24.92 an ounce. The rising exchange rate of the US dollar is also affected the depreciation of silver price (sources: In.investing.com, Fxempire.com). Fxstreet.com says that if the price of white metal soon returns to its former position and reaches $ 25.5 an ounce, it will be a good sign which means that the value will continue to grow. Reviewers believe the price of silver should reach $ 26 an ounce soon.
 
The price of palladium fluctuates constantly - the metal currently costs $ 2,250 an ounce. The price of platinum has dropped to $ 989 an ounce. However, sanctions for Russia have consequences: the price of palladium is falling (source: Pmm.umicore.com). It is also affected by the rise of the US dollar and the spread of coronavirus in China, which is isolating many people and stopping factory operations (sources: Uk.news.yahoo.com, Bullionstar.com). However, China also is seeing a growing shortage of palladium and has begun to buy platinum rapidly, leading to a shortage of the metal (source: Auctusmetals.com). In the long run, the price of platinum will rise due to the widespread use of the metal (source: Platinuminvestment.com).
Reviewers say that the aftermath of the war in Ukraine was a strong lesson for all in the auto-industry: securing raw materials and ensuring a smooth supply requires a lot of resources, which will affect the final price of products (source: Eu.detroitnews.com).
 


 
Only copper is steady this week, even a bit rising to $ 10,381.57 a tonne. This “quiet” period could predict a growing demand for the metal (source: Mining.com).