Bullion – The Friday Metals 10-28-2011

All four metals enjoyed increases over the week. Gold enjoyed the least increase at just over 6% with silver having the largest increase at just over 12%. What a week for the metals…let’s look.

First, there’s gold:

Bullion Market - 30 Days of Gold - 10282011

Next is silver:

Bullion Market - 30 Days of silver - 10282011

Third is platinum:

Bullion Market - 30 Days of Platium - 10282011

Last is palladium:

Bullion Market - 30 Days of Palladium - 10282011

Look at gold’s chart. The metal began increasing at the end of the previous week. This week it gained ground to a new high point for this 30-day period, though not a new high for gold. Its new high during the week occurred on Thursday before the metal encountered a small downturn on Friday.

Silver also enjoyed a new high during the week, but not an overall new point. Just look at silver’s chart. It looks like the white metal tiptoed over sharp points for a couple of weeks before starting to climb stair steps. In this case, each stair step was almost a $2 increase. Unlike gold, silver ended the week on its 30-day high point with a slight increase over Thursday’s closing value.

Similar, yet different, platinum steadily climbed throughout the week. The slope of the climb looks almost consistent until Friday. Seen in the tables below, platinum increased more than gold to end the week at less than $100 behind gold.

Of the four metals, palladium continues to be the odd metal. It, like the others, climbed throughout the week, but its charted growth does not look like the other metals. After a somewhat significant increase over Friday’s closing value at Monday’s close, the metal made only small gains on Tuesday and Wednesday. Thursday’s palladium market increased a larger amount with Friday leveling off with another small increase.

All four metals ended the week with new high points, but their high values for the 30-days are less than the numbers in the week that fell off the rolling chart. Let’s look at the new numbers:

  30 day high 30 day low Oct 28 Last Difference between
High and Low
Gold $1,745.70 $1,600.00 $1,743.40 8.3%
Silver $35.42 $28.69 $35.29 19.0%
Platinum $1,647.00 $1,442.00 $1,647.00 12.4%
Palladium $667.00 $549.00 $665.00 17.7%


The high numbers for both silver and palladium were recorded on the London Fix market on Friday. The New York closing numbers were slightly less as seen in the Oct 28 Last column.

Let’s view the week-over-week Friday New York close numbers:

  Oct 21 Last Oct 28 Last Percent Change Dollar
Gold $1,642.00 $1,743.40 6.2% $101.40
Silver $31.40 $35.29 12.4% $3.89
Platinum $1,511.00 $1,647.00 9.0% $136.00
Palladium $612.00 $665.00 8.7% $53.00


For this week, silver won the largest percentage increase at 12.4%, but platinum gained the largest dollar increase at $136.

A quick look at the daily New York closing values shows how the metals increased through the week.

  mon tues wed thu fri
gold $1,653.30 $1,704.60 $1,725.50 $1,745.70 $1,743.40
platinum $1,545.00 $1,564.00 $1,593.00 $1,633.00 $1,647.00
silver $31.74 $33.27 $33.37 $35.09 $35.29
palladium $639.00 $641.00 $647.00 $664.00 $665.00


It was an amazing growth week for the metals. In all likelihood a large part of the influence came from the discussions among the European Union representatives about the debt problems of some of their members.

But, similar issues exist in the US as well. Plus, we have the various political issues in the media. Those media stories also drive the activities in the stock and commodities (i.e., bullion) markets.

So, buckle those seat belts. The next week’s markets for the metals should be interesting!