Gold (Au) is a precious metal which has a high value in jewellery, heavy industry, electronics, industrial chemistry, gastronomy and medicine. Currently, 50% of the mined gold is spent on jewellery, 10% for industrial products, and the remainder for all kinds of investments.
Gold is a highly sought after as a tradeable commodity, which often shows a high increase in value in times of financial crisis on the stock markets or the decline in the value of currencies. It is regarded as a commodity, which can serve as a hedge against inflation and currency fluctuations.
Silver (Ag)- A chemical element from the group of transitional metals in the periodic table. It is a silvery-white metal with a high electrical and thermal conductivity and is therefore an important raw material for the computer industry, mobile phones, TV manufacturers and battery manufacturing.
The main producers of silver are Peru, Mexico, China, Australia, Chile, Russia, Bolivia and the United States. Its price is dependent on the overall economic situation in the world and the demand from the industrial sector.
Changes in oil prices are very important for the world economy. Petroleum or its derivatives are necessary for supply and transportation of equipment for substantially the entire industry. On the other hand, oil is also important for consumers, since prices of retail products are dependent on transportation costs, which in turn depends on the price of crude oil. Therefore, the oil has a significant impact on the entire economy, affecting the level of inflation and the purchasing power of households.
The main oil producers are Russia, Saudi Arabia, United States, Iran and China. On the other hand, among the main importers are the United States, Japan, China and the euro zone countries.
Crude oil prices are not only related to the availability of natural resources of this material, but also depend on the global economic situation. Any adverse economic or political event, such as war or strike could lead to an increase in oil prices. Oil prices can fluctuate as a result of reports from the OPEC production cartel.