The Friday Metals
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Let’s see, this week’s news included existing home sales down 27%, new home sales down 12% and the economic growth for second quarter down to 1.6%. Earlier it was projected to be 2.4%, but at 1.6%, that’s more than a two percent drop from the first quarter’s 3.7% economy.
With the bad economic news, how did the metals fare this week? Well, they did some climbing.
First, there’s gold:
Next is silver:
Then, there’s platinum:
Last is palladium:
Interesting. For most of the metals, Monday dropped to a low point from Friday, and their values climbed from there. Palladium performed differently in that it grew on Monday to higher than its Friday values.
Both silver and palladium had the steepest growth spurts for the week.
Let’s look at the performance numbers.
First, the 30 day low and high values in comparison to the Friday close figures:
| 30 day high | 30 day low | Aug 27 Last | Difference between High and Low |
|
| Gold | $1,240.25 | $1,157.00 | $1,238.10 | 6.7% |
| Silver | $19.11 | $17.47 | $19.11 | 8.6% |
| Platinum | $1,597.00 | $1,494.00 | $1,531.00 | 6.4% |
| Palladium | $514.00 | $464.00 | $503.00 | 9.7% |
Next, let’s take a look at this Friday’s end-of-week numbers in comparison to a week ago:
| Aug 20 Last | Aug 27 Last | Percent Change | Dollar Change |
|
| Gold | $1,228.00 | $1,238.10 | 0.8% | $10.10 |
| Silver | $18.02 | $19.11 | 6.0% | $1.09 |
| Platinum | $1,508.00 | $1,531.00 | 1.5% | $23.00 |
| Palladium | $474.00 | $503.00 | 6.1% | $29.00 |
The metals continue to be interesting to follow along with the economic and political news of the day. Some pundits think the metals will continue to climb from here with a few dips along the way but with continued growth being dominant.
Yes, history does prove that tough political and economic times make the metals increase. But, circumstances are never exactly the same as history. Today’s politics and economics are more on a global scale than in past times. Plus, the internet does play a large role in business and politics as well.
Whose crystal ball is correct about the metals’ future performance? Only time will tell whose “guess” is right.
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The Friday Metals
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Here we go again…another volatile week.
First, there’s gold:
Next, let’s look at silver:
Then, there’s the rare and expensive platinum:
Last, there’s the also rare but not as expensive palladium:
Before proceeding, note that the charts end on Thursday. That will be important when you see the performance of platinum and palladium today, Friday.
These charts are very interesting. With the exception of silver, all of the metals saw their lowest point on Tuesday. Silver fell a little further on Wednesday before pulling back into a positive direction.
But, perhaps more interesting is looking at the overall trend for the 30 days. Gold and silver show more movement down for most of the time. But, look at platinum and palladium. They were volatile throughout the 30 days, but they’re ending the month on a 30 day high.
Let’s look at the closing numbers for today and the highs and lows for the last 30 days:
| 30 day high | 30 day low | Jul 30 Last | Difference between High and Low |
|
| Gold | $1,244.00 | $1,157.00 | $1,181.40 | 7.0% |
| Silver | $18.74 | $17.47 | $17.97 | 6.8% |
| Platinum | $1,560.00 | $1,499.00 | $1,569.00 | 3.9% |
| Palladium | $488.00 | $429.00 | $496.00 | 12.1% |
Both platinum and palladium end the day at a higher number than the last 30 days while gold and silver still lag behind earlier highs.
Next, let’s look at how today’s values compare to a week ago:
| Jul 23 Last | Jul 30 Last | Percent Change | Dollar Change |
|
| Gold | $1,189.70 | $1,181.40 | -0.7% | -$8.30 |
| Silver | $18.12 | $17.97 | -0.8% | -$0.15 |
| Platinum | $1,539.00 | $1,569.00 | 1.9% | $30.00 |
| Palladium | $462.00 | $496.00 | 7.4% | $34.00 |
Interesting. Gold and silver closed today at values below last Friday’s numbers, but after the Tuesday dip, platinum and palladium increased over last week.
Some claim that improvements in the automobile industry’s sales help drive the platinum and palladium increases. Due to their high heat tolerance, other industries use these metals as well. And remember, these metals are as difficult to find and mine as gold.
With the economic turmoil and the political upheaval of an election year, the metals will continue to be entertaining to watch.
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The Friday Metals
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This week was a roller coaster ride with the metals. These headlines from MarketWatch tell the story of gold’s rise and fall over the last week:
Friday, July 16, 2010: Gold slides 1.7%, lowest closing level since May
Thursday, July 15, 2010: Gold futures close higher on weak economic data
Wednesday, July 14, 2010: Gold ends lower on a weaker dollar
Tuesday, July 13, 2010: Gold rises to highest level in nearly two weeks
Monday, July 12, 2010: Gold ends lower as dollar strengthens
Friday, July 9, 2010: Gold rises 1.2%; silver sees weekly rally
These headlines would be comical if they didn’t illustrate the economic problems of the country and the world.
Let’s look at the charts. First, there’s gold:
Silver is next:
Then, platinum:
Finally, there’s palladium:
What an up and down week.
Let’s look at the high and low numbers for the last 30 days and today’s last trade in New York:
| 30 day high | 30 day low | Jul 16 Last | Difference between High and Low |
|
| Gold | $1,261.00 | $1,186.00 | $1,193.00 | 5.9% |
| Silver | $19.37 | $17.65 | $17.86 | 8.9% |
| Platinum | $1,605.00 | $1,500.00 | $1,507.00 | 6.5% |
| Palladium | $502.00 | $429.00 | $448.00 | 14.5% |
Now, how does today’s close compare to last Friday, in percentages and in dollars:
| Jul 9 Last | Jul 16 Last | Percent Change | Dollar Change |
|
| Gold | $1,211.40 | $1,193.00 | -1.5% | -$18.40 |
| Silver | $18.15 | $17.86 | -1.6% | -$0.29 |
| Platinum | $1,530.00 | $1,507.00 | -1.5% | -$23.00 |
| Palladium | $457.00 | $448.00 | -2.0% | -$9.00 |
Look at the charts. Both platinum and palladium started the week down from last Friday but on an upward trend. Then both metals ended the week on a downward note from Thursday.
Similarly, gold and silver also started the week down from last Friday, then started to trend upward. However, those charts only show numbers through Thursday. Looking at today’s last trade numbers in the tables, you’ll see that gold and silver also ended the week down from Thursday.
Buckle your seat belts. Next week’s metals’ performances should prove interesting as well.
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The Friday Metals Snapshot
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Another week passed, and the metals’ performance was odd to say the least. Perhaps many factors played a role including the month-end economic news, domestically and globally.
Top of the list is gold:
Next, we have silver:
The expensive, white metal, platinum, is next:
The interesting alternative, palladium, ends the list:
Just look at those charts. Gold and silver have peaks and gorges like the Himalayas whereas platinum and palladium appear more like the Appalachian Mountain chain with more gentle foothills and curved valleys.
In numbers, let’s review the metals’ last 30 days’ performance:
| 30 day high | 30 day low | Jul 9 Last | Difference between High and Low |
|
| Gold | $1,261.00 | $1,186.00 | $1,211.40 | 5.9% |
| Silver | $19.37 | $17.65 | $18.15 | 8.9% |
| Platinum | $1,605.00 | $1,500.00 | $1,530.00 | 6.5% |
| Palladium | $502.00 | $428.00 | $457.00 | 14.7% |
Next, let’s compare the end of last week to the end of this week:
| Jul 2 Last | Jul 9 Last | Percent Change | Dollar Change |
|
| Gold | $1,211.30 | $1,211.40 | 0.0% | $0.10 |
| Silver | $17.87 | $18.15 | 1.6% | $0.28 |
| Platinum | $1,500.00 | $1,530.00 | 2.0% | $30.00 |
| Palladium | $431.00 | $457.00 | 6.0% | $26.00 |
For the most part, gold and silver hold the most attention in numismatic and investment circles.
Isn’t it interesting that gold really did not change much – a whole, whopping ten cents – from end-of-week to end-of-week. However, when you view the chart, gold did stumble significantly during the week. Silver held its own and didn’t follow quite the same path as gold.
The most intriguing precious metal continues to be palladium. It has the greatest difference, percentage-wise, between its high and low for the last 30 days. But, palladium also enjoyed the largest growth percentage during the week.
The precious metals and their performances remain a fascinating indicator of economic ups and downs.
Plus, some economists claim that due to the economic misfortunes gold will soon take off, maybe even as high as $5000 to $10,000 an ounce. Will it, really, get that high? Who knows…too many variables impact the metals’ values these days.
In the meantime, watch, learn and invest based on your own research.
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Friday Metals
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Let’s see. Last week the metals’ values decreased supposedly because of the options coming due. What happened to the metals’ values this week?
Well, some of the people who closely follow gold claim the occurrences in the world’s economy this week made gold (and the other metals) fall in value. In particular, Greece made a payment against their debt. This in turn strengthened the Euro and made the metals decrease. Perhaps other domestic and world factors contributed as well.
Let’s take a look at the week’s charts.
First, there’s gold:
Silver comes next:
Then, platinum:
Last is palladium:
The charts resemble outlines of mountains and valleys with the last week dipping into a valley. But, what do the value spreads look like for the high and lows over the last 30 days:
| 30 day high | 30 day low | Jul 2 Last | Difference between High and Low |
|
| Gold | $1,261.00 | $1,199.40 | $1,211.30 | 4.9% |
| Silver | $19.37 | $17.36 | $17.87 | 10.4% |
| Platinum | $1,605.00 | $1,495.00 | $1,500.00 | 6.9% |
| Palladium | $502.00 | $421.00 | $431.00 | 16.1% |
What about the change from last Friday to this Friday:
| Jun 25 Last | Jul 2 Last | Percent Change | Dollar Change |
|
| Gold | $1,255.70 | $1,211.30 | -3.5% | -$44.40 |
| Silver | $19.10 | $17.87 | -6.4% | -$1.23 |
| Platinum | $1,569.00 | $1,500.00 | -4.4% | -$69.00 |
| Palladium | $477.00 | $431.00 | -9.6% | -$46.00 |
Generally when the economy experiences tough times, gold (and the other precious metals) increases in value. With both the global and domestic economic news less than positive for either inviduals or businesses, gold and the other metals should be increasing again soon.
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World Trade w/ US
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Continuing yesterday’s theme but at a higher level, let’s look at the total trade with the world for the last six years plus the first four months of 2010.
First, our imports in Goods far exceeds our exports. The source of this information comes from the Census Bureau’s Foreign Trade statistics. Though the US does export Services, these statistics only include Goods.
The amounts are staggering when you consider these values are in billions of dollars. But, perhaps a more disconcerting way to look at the information is the percentage graph. To have equitable trade, the bars should be roughly equal in height. Instead, the import bars are much larger. The good news is they decrease over time but not significantly.
Also of interest is the review of the top trade partners during this time. The top five jockeyed their rank position over the years, but they remained constant. They are Canada, Mexico, China, Japan and Germany.
Let’s look at their information:
| Total Trade (Goods) | |||||||
| Rank | Country | Exports | % Export | Imports | % Import | Total Trade | % of Total |
| 2004 | Total, All | 819.0 | 36% | 1471.0 | 64% | 2289.6 | 100.00% |
| 1 | Canada | 190.2 | 43% | 255.9 | 57% | 446.1 | 19.50% |
| 2 | Mexico | 110.8 | 42% | 155.8 | 58% | 266.6 | 11.60% |
| 3 | China | 34.7 | 15% | 196.7 | 85% | 231.4 | 10.10% |
| 4 | Japan | 54.4 | 30% | 129.6 | 70% | 184.0 | 8.00% |
| 5 | Germany | 31.4 | 29% | 77.2 | 71% | 108.6 | 4.70% |
| Rank | Country | Exports | % Export | Imports | % Import | Total Trade | % of Total |
| 2005 | Total, All | 904.3 | 35% | 1671.4 | 65% | 2575.7 | 100.00% |
| 1 | Canada | 211.3 | 42% | 287.9 | 58% | 499.2 | 19.40% |
| 2 | Mexico | 120.0 | 41% | 170.2 | 59% | 290.2 | 11.30% |
| 3 | China | 41.8 | 15% | 243.5 | 85% | 285.3 | 11.10% |
| 4 | Japan | 55.4 | 29% | 138.1 | 71% | 193.5 | 7.50% |
| 5 | Germany | 34.1 | 29% | 84.8 | 71% | 119.0 | 4.60% |
| Rank | Country | Exports | % Export | Imports | % Import | Total Trade | % of Total |
| 2006 | Total, All | 1037.3 | 36% | 1855.4 | 64% | 2892.7 | 100.00% |
| 1 | Canada | 230.6 | 43% | 303.4 | 57% | 534.0 | 18.50% |
| 2 | China | 55.2 | 16% | 287.8 | 84% | 343.0 | 11.90% |
| 3 | Mexico | 134.2 | 40% | 198.3 | 60% | 332.4 | 11.50% |
| 4 | Japan | 59.6 | 29% | 148.1 | 71% | 207.7 | 7.20% |
| 5 | Germany | 41.3 | 32% | 89.1 | 68% | 130.4 | 4.50% |
| Rank | Country | Exports | % Export | Imports | % Import | Total Trade | % of Total |
| 2007 | Total, All | 1163.3 | 37% | 1953.6 | 63% | 3117.0 | 100.00% |
| 1 | Canada | 248.9 | 44% | 313.1 | 56% | 562.0 | 18.00% |
| 2 | China | 65.2 | 17% | 321.5 | 83% | 386.7 | 12.40% |
| 3 | Mexico | 136.5 | 39% | 210.8 | 61% | 347.3 | 11.10% |
| 4 | Japan | 62.7 | 30% | 145.5 | 70% | 208.1 | 6.70% |
| 5 | Germany | 49.7 | 35% | 94.4 | 66% | 144.0 | 4.60% |
| Rank | Country | Exports | % Export | Imports | % Import | Total Trade | % of Total |
| 2008 | Total, All | 1300.5 | 38% | 2100.4 | 62% | 3400.9 | 100.00% |
| 1 | Canada | 261.4 | 44% | 335.6 | 56% | 596.9 | 17.60% |
| 2 | China | 71.5 | 17% | 337.8 | 83% | 409.2 | 12.00% |
| 3 | Mexico | 151.5 | 41% | 215.9 | 59% | 367.5 | 10.80% |
| 4 | Japan | 66.6 | 32% | 139.2 | 68% | 205.8 | 6.10% |
| 5 | Germany | 54.7 | 36% | 97.6 | 64% | 152.3 | 4.50% |
| Rank | Country | Exports | % Export | Imports | % Import | Total Trade | % of Total |
| 2009 | Total, All | 1056.9 | 40% | 1558.1 | 60% | 2615.0 | 100.00% |
| 1 | Canada | 204.7 | 48% | 224.9 | 52% | 429.6 | 16.40% |
| 2 | China | 69.6 | 19% | 296.4 | 81% | 366.0 | 14.00% |
| 3 | Mexico | 129.0 | 42% | 176.5 | 58% | 305.5 | 11.70% |
| 4 | Japan | 51.2 | 35% | 95.9 | 65% | 147.1 | 5.60% |
| 5 | Germany | 43.3 | 38% | 71.3 | 62% | 114.6 | 4.40% |
| Rank | Country | Exports | % Export | Imports | % Import | Total Trade | % of Total |
| 2010 thru Apr |
Total, All | 399.1 | 41% | 580.4 | 59% | 979.5 | 100.00% |
| 1 | Canada | 78.6 | 47% | 90.4 | 53% | 169.0 | 17.30% |
| 2 | China | 27.7 | 22% | 98.8 | 78% | 126.5 | 12.90% |
| 3 | Mexico | 50.3 | 41% | 71.1 | 59% | 121.4 | 12.40% |
| 4 | Japan | 19.0 | 34% | 36.8 | 66% | 55.9 | 5.70% |
| 5 | Germany | 15.3 | 39% | 24.4 | 61% | 39.7 | 4.10% |
It’s interesting to see the disparate values with these trade partners. Yes, we do also export Services, however even including the services, the balance is not equitable. (The Census Bureau’s Foreign Trade group includes statistics for both Goods and Services in a high level report. This report was just released earlier in June.)
Though general in nature, these foreign trade characteristics play a role in the world’s economy, the value of the dollar in relation to world currencies and the metals markets, gold, in particular.
The next time you read economic news, remember these trade practices and comparisons.
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Friday Metals
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Interesting, the metals fell this week, but they quickly began climbing again. One commonly held opinion is that since options come due the third week of the month, the metals fall during that week. We’ll do a graphical study of historical third week performance in the near future.
But, for today, here’s gold:
Next, silver:
Third is platinum:
Fourth is palladium:
Now, what about the numerical performance of the 30 day lows and highs:
| 30 day high | 30 day low | Jun 25 Last | Difference between High and Low |
|
| Gold | $1,259.50 | $1,203.50 | $1,255.70 | 4.4% |
| Silver | $19.37 | $17.36 | $19.10 | 10.4% |
| Platinum | $1,605.00 | $1,495.00 | $1,569.00 | 6.9% |
| Palladium | $502.00 | $421.00 | $477.00 | 16.1% |
And, back to the point of third week performance, how does today’s New York close compare to last Friday’s:
| Jun 18 Last | Jun 25 Last | Percent Change | Dollar Change |
|
| Gold | $1,256.50 | $1,255.70 | -0.1% | -$0.80 |
| Silver | $19.17 | $19.10 | -0.4% | -$0.07 |
| Platinum | $1,589.00 | $1,569.00 | -1.3% | -$20.00 |
| Palladium | $488.00 | $477.00 | -2.3% | -$11.00 |
Just look, gold and silver almost climbed back to their levels of last Friday but not quite back to their recent highs of $1259.50 and $19.37 respectively. Platinum and palladium’s performances are too shabby, but since they do not get the same attention as gold and silver, they did not get as close to their values of last week. Remember, sometimes that lack of media attention also protects those metals’ values.
Wonder what next week’s performance charts will be – mountain climbers or ditch diggers….
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The Friday Metals Re-cap
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Another interesting week with the metals. Take a look at the charts. Isn’t it interesting that the metals did not follow similar paths?
Gold climbed to a new high but then dropped back. Silver did some climbing, dipping back and started upward again. The less notorious metals, platinum and palladium, decided to do some climbing with only minor dips during the week.
Let’s look at the end of the week charts showing the last 30 days’ performance.
First, there’s gold:
Next, let’s look at silver:
And, the white metal, platinum:
Then, there’s palladium:
But, what about the numbers? (Note: this information was pulled at roughly 6 pm Eastern time.)
| 30 day high | 30 day low | Jun 11 Last | Difference between High and Low |
|
| Gold | $1,248.00 | $1,177.00 | $1,227.50 | 5.7% |
| Silver | $19.64 | $17.36 | $18.22 | 11.6% |
| Platinum | $1,737.00 | $1,492.00 | $1,539.00 | 14.1% |
| Palladium | $543.00 | $415.00 | $447.00 | 23.6% |
How does the NY close today, 6/11, compare to the close last Friday, 6/4?
| Jun 04 Last | Jun 11 Last | Percent Change Increase(+) Decrease(-) |
|
| Gold | $1,220.00 | $1,227.50 | 0.6% |
| Silver | $17.41 | $18.22 | 4.7% |
| Platinum | $1,511.00 | $1,539.00 | 1.9% |
| Palladium | $425.00 | $447.00 | 5.2% |
In absolute dollars, platinum had the biggest Friday to Friday gain at $28, but palladium’s $22 gain represented the biggest percentage increase of the four metals at 5.2% during the week.
With the economic and political negativity, here and around the world, who knows what next week may bring.
But, the metals’ performance continues to be intriguing and interesting to watch.
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The Metals on Friday
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Let’s take a look at the metals’ performance this week. The world’s political situation and the corresponding economic turmoil have played havoc with the markets in the last couple of weeks. But, what did the metals do?
Here’s gold:
Next, there’s silver:
And, platinum, that beautiful white precious metal:
Last, a versatile favorite, palladium:
Each of the metals climbed from where we left them last Friday. Let’s look at the end of day information for last Friday versus today:
| May 21 Last | May 28 Last | Percent Change Increase(+) Decrease(-) Percent |
|
| Gold | $1,177.00 | $1,214.30 | 3.2% |
| Silver | $17.64 | $18.37 | 4.1% |
| Platinum | $1,505.00 | $1,545.00 | 2.7% |
| Palladium | $434.00 | $457.00 | 5.3% |
What about the rolling 30 day highs and 30 day lows?
| 30 day high | 30 day low | May 28 Last | Difference between High and Low |
|
| Gold | $1,241.25 | $1,149.50 | $1,214.30 | 7.4% |
| Silver | $19.64 | $17.50 | $18.37 | 10.9% |
| Platinum | $1,747.00 | $1,492.00 | $1,545.00 | 14.6% |
| Palladium | $562.00 | $415.00 | $457.00 | 26.2% |
Palladium continues to be the most volatile but also the most fun to watch.
Yes, the investment pundits focus on gold and and silver for the most part. But, if you look at the wide variety of industrial uses, in addition to car parts, for palladium, the metal should be in more demand. Plus, you wonder why industry would use the more expensive platinum when palladium costs much less.
The mining experts don’t think that palladium’s price will catch platinum’s but they do think the difference is too broad.
And, it’s interesting that both platinum and palladium are just as scarce and just as difficult, if not more so, to mine than gold.
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Downhill Roller Coaster
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Wow…does the pit of your stomach feel like you’ve just ridden a roller coaster down a steep hill?
Take a look at the 30 day metals’ charts below:
First, there’s gold:
Next, look at silver:
Then platinum:
Last, there’s palladium:
Now, let’s look at a table of the high and low figures for the month with the last trade (pulled around 6:00 pm) for today:
| 30 day high | 30 day low | May 21 Last | Difference between High and Low |
|
| Gold | $1,241.25 | $1,133.75 | $1,177.00 | 8.7% |
| Silver | $19.64 | $17.50 | $17.64 | 10.9% |
| Platinum | $1,752.00 | $1,510.00 | $1,505.00 | 14.1% |
| Palladium | $571.00 | $415.00 | $434.00 | 27.3% |
Perhaps that sinking feeling is justified, however investing in the metals cannot be an eyes-glued-to-the-market venture. Yes, you do need to keep aware of your investments, but reaction to market fluctuations should be done with caution.
Many dealers talk about their customers who buy high and sell low. That’s not the way to invest in the market. Ideally, you want to buy low and sell high – obviously.
But, if you buy at a peak number and panic-sell when the market hiccups, you will - at best - make only small profits and will most likely lose money.
Calm down, that pit of the stomach feeling will fade. This week’s political and economic news, both domestically and globally, influenced the markets dramatically – the metals, the stocks and the currencies.
If you look at the table above, the metals had started back upward with the exception of platinum which, in all likelihood, will as well.
And, you might want to do some research to determine if now is a good time to buy before the metals increase again. As the economics and the politics continue to tumble the metals could continue the roller coaster ride with as many uphills as downhills.
But, remember, no one’s crystal ball can accurately predict the future. There are many very educated people from whom you can learn much, but even the most widely knowledgeable cannot tell you what will happen with the markets – metals, stocks or currencies.
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