Gold, silver, copper and precious gems are on the verge of becoming the most valuable metals in the world, according to a report published Wednesday.
The report, from consultancy Guggenheim Partners, said that prices for the precious metals have jumped since January, and were up about 30% in April.
It also said that the value of all metals and precious stones rose in April, from $2.27 billion in January to $2,939 billion in April 2017.
The gold price increased to $1,845 per ounce in the last 24 hours, while the silver price was up by $11.25 to $5.93 a pound, and the copper price was down by $6.49 to $3.19 a pound.
The copper price increased by $0.19 to $0:00:27.
“In the last year alone, the value per ounce of gold has increased by more than 200%, while the value in copper and silver rose by almost 80%, and the value for precious gems has risen by more that 100%,” the report said.
Gold and silver prices are also on the rise in the United States, the report found.
Gold was up nearly 14% in the first quarter of 2017, while silver rose almost 20%.
Silver prices rose by 8.2% over the same period, while copper prices rose 16.2%.
Gold prices have gained over 70% in just the last five years, while platinum prices are up nearly 60%.
In 2017, gold and silver were valued at $1.85 trillion and $1 trillion, respectively, according the Guglenovides report.
Gold, silver prices and other metals are on a tear.
Gold surged nearly 300% in 2018, while gold prices have risen almost 800% since January of this year.
Guggenheimer said that a large part of the increase in gold prices is because of the collapse in demand for precious metals.
“As demand for these precious metals is so low, gold prices are rising,” the Gugenheim report said, citing a Reuters report that said gold prices were expected to reach $1k in 2020.