Gold and silver continue to be attractive investment assets amid low interest rates and the absence of other reliable assets.
The difference in the price of platinum and palladium continues to increase. By the end of February, the cost of platinum decreased by -10%, ending the month at around $ 867.50 per ounce. The price of palladium, on the contrary, showed an increase of + 13.7% in February, we will complete the second month of the year at around $ 2607.50 per ounce.
The palladium market receives support for growth due to a shortage of supply of this precious metal in the world market. Disruptions in the supply of palladium led to an increase in the cost of precious metals in February this year, but this trend will lose its strength in the long run.
The cost of base non-ferrous metals continued to decline in February, namely: lead (-0.3%), zinc (-9.1%), aluminum (-1.7%), nickel (-3.8%). Only the price of copper remained unchanged in February. The pricing of non-ferrous metals indicates a general concern about global market conditions.
The cost of Brent crude oil is in a downtrend. In February, the decline was -13.2% at around $ 44.80 per barrel. The situation with oil, as well as non-ferrous metals, indicates growing global concern and weakening global conditions. It remains only to wait how the situation with the consumption and production of oil will develop. Everything indicates a continued decline in consumption, so do not rely on the growth of oil prices.