The prices of some precious metals have risen this week, while others continue to fall. During this period, various events are taking place around the world that have a significant impact on the value of precious metals: the Russian war in Ukraine, the halt in production in China due to the new coronavirus policy, and rising inflation (source: Metalsdaily.com). It is difficult to predict where the prices of precious metals will continue to go - different scenarios can be expected. However, there should be no significant price deviations.
The price of gold dropped to $ 1862.88 an ounce. Cityindex.co.uk says that the main reason for the fall in gold price this week is the slowdown in manufacturing processes in China. Still, it’s worth considering buying gold when its price has dropped - it can be a good investment for the future. Experts say that demand for gold jewellery could grow by 11% this year (sources: Timesofindia.indiatimes.com, Capital.com). According to News.bitcoin.com, the price of gold is forecast to grow by 3%.
 
The price of silver fell to $ 22.62 an ounce. Reviewers say that this period is difficult for white metal, with its price falling for more than a week; if the price falls below $ 21 an ounce, an even stronger decline in value can be expected thereafter (sources: Fxstreet.com, Fxempire.com). For silver to potentially rise in price, it must exceed $ 24 an ounce (source: Fxstreet.com).
 
The price of palladium rose to $ 2,227.26 an ounce, and platinum rose to $ 943 an ounce. The price of palladium has risen quite rapidly as the metal shortage has intensified (sources: Economies.com, Via.news). Experts say that this is just the beginning - Europe needs to prepare for a disruption in the supply of metals due to the war in Ukraine and look for alternatives to reduce the shortage of metals (sources: Forbes.com, Reuters.com). The rise in the price of platinum should be viewed with caution - experts believe that the value of platinum has not yet taken root for higher growth (sources: Money.usnews.com, Heraeus.com). It should come as no surprise that the price of platinum will fall again next week.
 

 
The price of copper continues to fall - it currently costs $ 9,408.67 a tonne. The main reason does not change - the "zero" coronavirus policy is not disappearing from China, manufacturing is stalling, so it is normal that the supply of raw materials is slowing down. Copper demand has so far declined and may fall slightly in the near future (source: Mining.com).