The Friday Metals 06102011

All four metals had a sawtooth week on their charts with some of the “teeth” more pronounced than others. At week’s end, two of the metals increased and two decreased over the previous week’s ending values.

Let’s look at the charts.

First, there’s gold:

30 Day Gold Performance 06102011

Second is silver:

30 Day Silver Performance 06102011

Third is platinum:

30 Day Platinum Performance 06102011

Fourth is palladium (the mostly climbing metal):

30 Day Palladium Performance 06102011

Just look at those charts.  They have some similarities, but the 30-day period yields dramatically different graphs across the four metals.

Gold’s close on Monday started the week up from the previous Friday’s close. The yellow metal went up again on Tuesday to achieve a new, 30-day high value only to fall back at Wednesday’s close. Trading brought gold back up on Thursday, but it did not close as high as Tuesday. Gold’s week ended with a sharp and dramatic drop.

Though the graphics are not equal for the week, silver performed much like gold. It began with an upward push on Monday and Tuesday then fell on Wednesday. Thursday saw a high point for silver for the week but the metal fell sharply on Friday. Unlike gold, silver did not achieve a new recent high. After falling significantly last week, silver’s graph is still below last week’s high point.

Behaving differently, platinum’s Monday ended down from the previous Friday’s close, but Tuesday saw upward movement. On Wednesday, the metal fell again only to climb on Thursday to a new, 30-day high value. But, like its counterparts, platinum dropped on Friday.

Similar to gold and silver, palladium began the week with the Monday and Tuesday trading increasing the metal’s value. On Wednesday, a slight drop occurred followed by an increase on Thursday to a new, 30-day high point. Like the other metals, palladium ended the week on a downward note. But, look at palladium’s chart, unlike the other metals, palladium appears to be steadily climbing a mountainside.

The metals encountered some changes in their highs this week, and gold’s low increased slightly as the previous low fell off the 30-day period.

  30 day high 30 day low Jun 10 Last Difference between
High and Low
Gold $1,549.00 $1,478.50 $1,532.10 4.6%
Silver $39.18 $32.50 $36.20 17.0%
Platinum $1,842.00 $1,749.00 $1,826.00 5.0%
Palladium $814.00 $706.00 $810.00 13.3%


All four metals changed their 30-day high values. Gold and palladium increased their high values while silver and platinum decreased as their highs on last week’s table fell off the 30-day period. Plus, silver’s new high occurred last week with the other metals achieving their new highs this week.

Let’s view how the metals compare – this Friday’s close to last week’s Friday’s:

  Jun 3 Last Jun 10 Last Percent Change Dollar
Gold $1,542.40 $1,532.10 -0.7% -$10.30
Silver $36.29 $36.20 -0.2% -$0.09
Platinum $1,815.00 $1,826.00 0.6% $11.00
Palladium $783.00 $810.00 3.4% $27.00


Though gold achieved a new high this week, it lost value from the previous Friday’s close. Silver’s tumultuous week also saw a loss but not significant. Both platinum and palladium increased week-over-week with palladium winning the contest for the largest dollar and the largest percentage gain.

With the metals and the stock market decreasing yesterday, what will happen to the metals next week?

No one knows with any certainty, but looking at historical trends, when stock values go down, metal prices go up.