It’s Friday. What did the metals do this week?
Perhaps the better question would be what did the 300+ point drop in the Dow do to the metals?
Let’s look at gold:
Next in the sequence is silver:
Now, let’s look at platinum:
Last in the series, palladium:
As the pictures show, the metals did not evade all the negative impacts of domestic and global politics and economics this week.
Here’s a look at the 30 day high and low comparisons side-by-side:
|30 day high||30 day low||Jun 04 Last||Difference between
High and Low
Interesting, silver was the only metal with today’s end-of-Friday rates lower than the low of the last 30 days. Very interesting as many people still consider silver is grossly undervalued on the market.
Now, let’s look at this Friday versus last Friday:
|May 28 Last||Jun 04 Last||Percent Change
Another interesting result, gold is the only metal to end the day higher than last Friday. Is that an indicator of people jumping from the stock market to gold as the stock market went down?
The aftermarket on all of the metals could be interesting to watch before the Monday market becomes active.