Did you watch the metals this week? Though they didn’t end the week on their highest value, both gold and silver achieved new highs.
Let’s look at the charts.
First, there’s gold:
Next is silver:
Third is platinum:
Last is palladium:
Look at gold’s chart. In just one week, the yellow metal climbed out of the bottom of the valley it was in on March 15. Then, add another day, and gold gains a new high, $1447, on the London market. But, on the New York close, the value dropped from Wednesday to Thursday, and again – though less than a dollar – on Friday’s close.
Silver, on the other hand, climbed out of its valley in less than a week. By Monday, its values were on par with earlier highs. On Tuesday, the metal continued with a small climb which became even steeper on Wednesday. Thursday’s New York closing value was down slightly, but the London Fix on Thursday showed the new high value for silver. Friday’s New York close picked back up slightly, though it didn’t get back to its new high.
Platinum gained through the week, but it encountered ups and downs as it climbed. Platinum’s Monday values grew over the previous Friday’s closing numbers, but Tuesday saw a small drop backward. On Wednesday, platinum picked back up again, held constant for Thursday and encountered another small drop on Friday. Platinum is gaining with struggles along the way.
Similar to platinum’s patterns, palladium began the week with growth over the previous Friday. On Tuesday, the metal fell backward slightly only to recover its loss on Wednesday. Thursday saw a further increase, though slight, and Friday had a one dollar fall back. Palladium, too, is gaining with struggles along the way.
Let’s look at the 30 day performance tables for the metals:
| 30 day high | 30 day low | Mar 25 Last | Difference between High and Low |
|
| Gold | $1,447.00 | $1,395.70 | $1,430.20 | 3.5% |
| Silver | $37.78 | $32.11 | $37.32 | 15.0% |
| Platinum | $1,848.00 | $1,689.00 | $1,748.00 | 8.6% |
| Palladium | $823.00 | $696.00 | $749.00 | 15.4% |
Just look at those new 30-day high numbers for gold and silver. Of course, silver and palladium continue to have the widest swings, percentage-wise, between their highs and lows. Though, platinum has a large percentage difference as well.
Now, let’s see how this week’s closing values compare to the previous Friday’s close:
| Mar 18 Last | Mar 25 Last | Percent Change | Dollar Change |
|
| Gold | $1,419.70 | $1,430.20 | 0.7% | $10.50 |
| Silver | $35.28 | $37.32 | 5.8% | $2.04 |
| Platinum | $1,721.00 | $1,748.00 | 1.6% | $27.00 |
| Palladium | $729.00 | $749.00 | 2.7% | $20.00 |
The good news is all of the metals increased with silver having the highest percentage increase and platinum enjoying the largest dollar increase.
What a week for the metals – especially gold and silver.
Some claim $42 silver is just around the corner. Others think $60 silver will be here soon. Only time will tell who is correct.
In the meantime, there’s plenty of entertainment in the metals.