This was another interesting week for the metals. They all went down between Monday’s close and Tuesday’s before trending upward again. Three of the metals continued upward through the end of the week with one dropping back slightly on Friday. And, one metal reached a new, all-time high.
Let’s look at the charts. First, there’s gold:
Silver is second:
Platinum is third:
Palladium is last:
Those are four very different looking charts with their ups and downs. Perhaps gold and silver look similar, but only in that they, for the most part, trended upward. They, too, have different bounces throughout the 30 days.
Gold began the week with Monday’s close up slightly from the previous Friday’s. On Tuesday, gold closed down, but only by thirty cents. On Wednesday, gold jumped a significant amount, Thursday a smaller amount upward, and Friday encountered another significant increase.
Silver, on the other hand, encountered a much more volatile week — not seen as much in the 30-day closing values as in the daily charts. In particular, Monday’s 24-hour chart has silver getting close to $50 (roughly $49.75) in the early am hours and in the late pm hours falling below $45 (roughly $44.75). Just a year or so ago, swings of less than $1.00 in a month would have been astounding. This amazing $5.00 swing occurred in less than 24 hours.
That aside, silver’s New York market closed higher on Monday than the previous Friday. Tuesday, silver experienced a significant drop left over from Monday’s late pm drop. On Wednesday, silver regained its losses, and on Thursday, reached a new high point for recent years. But, silver’s Friday values fell backward, the only metal to fall off the week’s upward trend.
After stumbling for awhile, platinum increased values this week to a new recent high value for the past year but not quite to the five-year high yet. Like the other metals, platinum increased slightly from the previous Friday’s close to Monday’s close and fell slightly for Tuesday’s close. On Wednesday, platinum recovered its Tuesday losses, grew even more on Thursday and ended the week with a significant increase.
After ending the previous week trending downward, palladium dropped further on Monday and again for Tuesday’s closing values. On Wednesday, palladium almost recovered its losses from the previous week into the first part of this week. But, it took Thursday’s growth to increase palladium’s value above the recent losses. With a continued increase on Friday, the metal got closer to its 30-day high.
Let’s look at the 30-day highs and lows for the four metals:
| 30 day high | 30 day low | Apr 29 Last | Difference between High and Low |
|
| Gold | $1,565.70 | $1,418.00 | $1,565.70 | 9.4% |
| Silver | $48.70 | $37.48 | $47.94 | 23.0% |
| Platinum | $1,873.00 | $1,752.00 | $1,873.00 | 6.5% |
| Palladium | $798.00 | $731.00 | $789.00 | 8.4% |
Gold and platinum ended their week with new 30-day high values with gold’s being a new, all-time high. Silver also gained a new, recent high value but did not end the week on a high note. Silver continues to have the largest percentage swing between its low and high for the rolling 30 days.
Now, let’s see how the metals compare between this week’s ending values versus last week’s:
| Apr 21 Last | Apr 29 Last | Percent Change | Dollar Change |
|
| Gold | $1,504.70 | $1,565.70 | 4.1% | $61.00 |
| Silver | $46.61 | $47.94 | 2.9% | $1.33 |
| Platinum | $1,813.00 | $1,873.00 | 3.3% | $60.00 |
| Palladium | $768.00 | $789.00 | 2.7% | $21.00 |
This week, gold wins both the percentage increase and the dollar increase over the previous Friday’s close. Though, platinum follows closely with its increase in dollars week over week.
For sellers, silver offered some nail-biting moments this week. But, for investors, the lower silver rates offered a great time to buy.
Many people expect silver to continue its upward climb, but it won’t be without more ups and downs along the way. The same can be said for gold. Platinum and palladium suffer from industrial and commercial impacts, but they should increase as well.
Remember, though, perform your own research to determine whether you want to buy, hold, or sell. In the meantime, hang on for the exciting ride.