Gold and copper prices have never been this high, and silver is on the rise RTL News

Prijzen goud en koper waren nog nooit zo hoog, ook zilver zit fors in de lift

In uncertain times, investors look for investments that are considered safe, such as gold. The price of gold on the London metals market rose to about $2,450 (2,255 euros) per troy ounce (31.1 grams).

Later the price fell again somewhat. At the beginning of April, the price peaked at $2,265 per ounce.

The price of the precious metal has been rising for some time, mainly due to the hope that the US central bank will cut interest rates and unrest in the Middle East due to the war between Israel and Hamas. In addition, the Chinese central bank added large amounts of gold to its reserves.

Copper also absolutely

The price of copper rose above $11,000 per ton for the first time. This is mainly due to expectations that demand for the metal will grow strongly due to the energy transition, while supply is limited. Last week, the International Energy Agency warned that copper and lithium prices were steep It will increase in the near future.

Copper is widely used in electric vehicle infrastructure, including charging points, as well as for wind turbines and solar panels. Because of copper’s many industrial applications, the metal is also a barometer of economics.

China is stockpiling

Especially for the Chinese economy, says analyst Corny van Zijl. “The Chinese are buying all the copper,” he points out. “As you can see, the stocks there are very high.”

“What should they do with all this copper?” is the next question. Van Zijl offers some possible reasons. Such as increased geopolitical tension. Or reinvest the proceeds from the sale of part of the US dollar stock.

Silver is at the highest level in 11 years

The price of silver has now risen to its highest level in eleven years. The price of nickel, used for example in the manufacture of stainless steel and batteries, reached its highest level since August last year due to unrest in New Caledonia. The French overseas territory is a major producer of nickel, and the riots significantly disrupted production of the metal in the archipelago east of Australia.

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