The Friday Metals 08-26-2011

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What a difference a week makes…three down and one up in week-over-week performance. As you might imagine, the metals are just the opposite of last week’s end of three up and one down.

But, at the beginning of the week, those three metals achieved new high points with one (gold) being another record high.

Let’s review the charts.

First, there’s gold:

30 Day Gold Performance 08-26-2011

Next is silver:

30 Day Silver Performance 08-26-2011

Third is platinum:

30 Day Platinum Performance 08-26-2011

Fourth is palladium:

30 Day Palladium Performance 08-26-2011

For gold, silver and platinum, their performances for the week were similar with just a variance in how much they increased or decreased each day. Each of the three climbed to a new high point for the close on Monday. Tuesday began the fall as investors sold to take profits with Wednesday being the lowest point for the week. Thursday and Friday saw increases again, but the metals could not recover all of their losses during the week.

Palladium, on the other hand, has been performing differently. Though it did increase and decrease on the same days as the other three metals, it did not increase or decrease as significantly. With smaller losses on Tuesday and Wednesday, the metal’s climb on Thursday and Friday allowed it to end the week up over the previous week’s close.

Let’s take a look at the 30-day high and low values:

  30 day high 30 day low Aug 26 Last Difference between
High and Low
Gold $1,898.10 $1,613.50 $1,829.10 15.0%
Silver $43.72 $37.71 $41.50 13.7%
Platinum $1,901.00 $1,700.00 $1,829.00 10.6%
Palladium $842.00 $714.00 $756.00 15.2%

 

Look at those differences in the highs and lows for the rolling 30 days. Hindsight, of course, is not the way the market works. But, just think, if one could always buy low and sell high, those percentages would be very nice investment growth in today’s market.

In the week-over-week numbers, let’s see how those three down and one up numbers compare:

  Aug 19 Last Aug 26 Last Percent Change Dollar
Change
Gold $1,853.10 $1,829.10 -1.3% -$24.00
Silver $42.90 $41.50 -3.3% -$1.40
Platinum $1,873.00 $1,829.00 -2.3% -$44.00
Palladium $751.00 $756.00 0.7% $5.00

 

Palladium’s growth is not that large, but it is positive. Silver had the largest percentage decrease with platinum having the largest dollar decrease.

But, take a closer look at those numbers, both the high values and the week ending values. Do you see anything odd?

Let’s look at another table — the New York close each day for gold and platinum:

  mon tues wed thu fri
gold $1,898.10 $1,830.10 $1,751.30 $1,771.30 $1,829.10
platinum $1,901.00 $1,863.00 $1,803.00 $1,819.00 $1,829.00

 

For months, platinum has been valued higher than gold on the market. Frequently several hundred dollars separated the two metals.

Just look at the end of the week. They are virtually the same with gold slightly higher.

Is this the start of a new order in the metal values?

This week, the Commodities Exchange increased the amount of funds necessary to purchase gold futures. This, in addition to profit-takers, helped drive the price down.

But, many old-timers speculate that gold will turn quickly to go back up, and though it’s path won’t consistently be up, its growth will be up over time.

On the other hand, there are those who think silver is undervalued and will be increasing significantly as well.

Who is right? What will the markets do? As always, research to make the right choice for your investment strategy.

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