Investing Precious Metals: Gold, Silver & Bitcoin Price Dropping IRON hit Roof!

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When you think about the price of metals on the market, most conversations focus on gold, silver, copper, etc.

But one metal, or should I say ore, reached a new high in price this week, as iron ore shot up to nearly $130 per dry metric ton.

This price is the highest it’s been since 2014, due to a number of interesting factors.

After plummeting to $80 back in March, the price of iron ore has stabilized and is now one of the hottest commodities around the world.

Many experts believe that the price increase is largely due to China’s large fiscal stimulus investment in infrastructure spending.

In July alone, China imported over 112 million metric tons of iron ore.

Economic strategists from ANZ Research noted: “Bulk commodities continue to benefit from infrastructure investment in China.”

But this isn’t the only factor driving iron ore prices through the roof.

Due to a combination of that thing out there halting production and a disastrous dam incident last year.

Brazil, one of the leading producers of iron ore, has seen their supply seriously drop this year, causing the price to skyrocket.

Financial analysts from Fitch Solutions explained: “Continued concerns over Brazil’s iron ore supply have boosted iron ore prices, along with strong Chinese demand.”

In fact, these financial analysts predict iron ore to stay high for the rest of 2020.

Makes sense to me, when there’s high demand and low supply, prices go up.

Meanwhile, gold and silver have been shining a little less brightly in recent weeks.

Back in early August, gold prices exceeded $2,000 per ounce and silver nearly topped $30 per ounce.

Just 2 weeks later, both gold and silver have stabilized at around $1,950 for gold and $26.50 for silver.

We’ll see if both of these precious metals can go back to their record highs in the coming weeks, as well as whether or not iron ore can continue it’s amazing climb.

Do you have any investments in gold, silver or iron ore? Let me know in the comments below!

Silver price will probably go up and down. I buy gold and the gold price today to me doesn’t seem out of range considering the amount of money being printed out of the Federal Reserve.

Source: https://www.cnbc.com/2020/08/21/iron-ore-prices-hit-multi-year-highs-on-china-infrastructure-investment.html

https://goldprice.org/

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