The Friday Metals 09102010

Let’s see, this week the job information was released resulting in the stock market going up and the metals going down. Then, we learn that the jobs information did not include nine states’ information. It seems someone thought a “guess” would be sufficient. As a result, the stock market dropped and the metals went back up.

Those events, however, happened in a very short window of time. The Friday charts show a point in time for each day.

Let’s take a look at the individual metals and their performance for the week and the last thirty days.

First, there’s gold:

30 Days Gold Performance 9-10-2010

Next in queue is silver:

30 Days Silver Performance 9-10-2010

Then, there’s platinum:

30 Days Platinum Performance 9-10-2010

Bringing up the rear is palladium:

30 Days Palladium Performance 9-10-2010

Gold grew to a new high, but not as high as earlier in the year – yet. It dropped back down to close the week very similar to last week’s close.

Silver also climbed to a new 30-day high, performed some see-saw action and closed the week slightly higher than last Friday.

Platinum grew on Monday but then turned downward to close the week at a value less than last Friday.

Being different, palladium dropped to a low point on Tuesday, climbed back up a small amount to level off for the week. However, palladium also ended the week at a lesser value than last Friday.

Let’s take a look at the actual numbers.

The first table reviews the close for today and lists the highs and lows for the last 30 days. 

  30 day high 30 day low Sep 10 Last Difference between
High and Low
Gold $1,258.00 $1,192.50 $1,246.70 5.2%
Silver $20.02 $17.88 $19.88 10.7%
Platinum $1,565.00 $1,494.00 $1,540.00 4.5%
Palladium $529.00 $464.00 $518.00 12.3%


The second table compares the week-ending performance from last week to this week in both percentages and actual dollars.

  Sep 3 Last Sep 10 Last Percent Change Dollar
Gold $1,246.60 $1,246.70 0.0% $0.10
Silver $19.85 $19.88 0.2% $0.03
Platinum $1,551.00 $1,540.00 -0.7% -$11.00
Palladium $528.00 $518.00 -1.9% -$10.00


From week’s end to week’s end, both gold and silver held their own, but platinum and palladium both lost ground. Looking at the charts, platinum looks to have a downward trend, and palladium appears to be leveling off or perhaps growing.

But, beware, lest we fall into the same problem as the government in “guessing” at what will happen. Charts provide entertainment in showing growth – positive or negative – and trends, however other factors influence how the metals perform. Always, always research before buying.

The next week along with the weeks leading up to the November elections will introduce even more volatility into the metals and the stock market.