Sorry, folks, about the dearth of posts this week. Other priorities prevailed.
But, we’re going take a few minutes to look at the week in the metals.
First, there’s gold:
Next is silver:
Third is platinum:
Fourth and last is palladium:
Looking at those charts, all four metals started the week on an upward trend that didn’t last long at all. On Tuesday, they all fell significantly.
On Wednesday, silver began going back up while platinum leveled off. Palladium took another day before stopping its downward path to level off like platinum. Gold, on the other hand, fell through Thursday and started upward on Friday.
The first table for the metals shows the rolling 30-day highs and lows along with the close for the week.
| 30 day high | 30 day low | Dec 17 Last | Difference between High and Low |
|
| Gold | $1,426.00 | $1,335.80 | $1,375.50 | 6.3% |
| Silver | $30.50 | $25.20 | $29.19 | 17.4% |
| Platinum | $1,729.00 | $1,636.00 | $1,697.00 | 5.4% |
| Palladium | $769.50 | $639.00 | $738.00 | 17.0% |
Interesting, the metals’ highs and lows remain the same as last week except for platinum’s high. The five-day change in the rolling 30-days dropped platinum’s high $45 from $1774 to $1729.
Let’s look at last week’s close versus this week’s:
| Dec 10 Last | Dec 17 Last | Percent Change | Dollar Change |
|
| Gold | $1,385.80 | $1,375.50 | -0.7% | -$10.30 |
| Silver | $28.68 | $29.19 | 1.8% | $0.51 |
| Platinum | $1,679.00 | $1,697.00 | 1.1% | $18.00 |
| Palladium | $733.00 | $738.00 | 0.7% | $5.00 |
Though all of the metals dropped during the week, all of them – except gold – recovered to close this week higher than last week. Of course, none of the metals performed near their recent high values.
If you remember from the news, this past week was when a lot of people would be selling a lot of their market positions due to expected increases in capital gains taxes. Is that why the metals fell this week? Or, could there be other reasons too?
Stay tuned for the continuing saga of the metals going up and the metals going down – not necessarily at the same time.