Just wow…the metals enjoyed an up week with gold reaching an all time high and silver reaching a 30-year high. Silver is not quite as high as the 1980 peak values of just under $50, but it’s climbing in that direction. Platinum and palladium haven’t regained their recent high values, but they have almost recovered the losses centered around the earthquake and tsunami.
Let’s look at the charts.
First, there’s gold:
Next is silver:
Third is platinum:
Fourth is palladium:
On Monday, gold closed with a small increase over the previous Friday’s closing value. On Tuesday, gold rose sharply, over $20, at its close. Wednesday saw a slight increase with a small, very small, drop back on Thursday’s close. And, amazingly, gold rose sharply – again, though not quite $20 – for Friday’s closing values.
Like gold, silver climbed this week, but unlike gold, every day’s close was slightly higher than the day before. On Monday, silver closed at $38.59, Tuesday at $39.28, Wednesday at $39.51, Thursday at $39.64 and Friday at $40.93. With the previous Friday’s close at $37.83, silver climbed an astounding $3.10 during the week. Just wow!
After ending the previous week on a downward note, platinum started upward this week, though with drops on a couple of days. On Monday, platinum increased quite a bit over the previous Friday’s close. Tuesday saw another increase, but on Wednesday, platinum fell back slightly. On Thursday, platinum fell significantly, but the end of the week saw the white metal regain its losses and go even higher.
Similarly, palladium had a couple of drops during the week, but different from platinum, it finished the previous week on an upward trend. The beginning of the week, Monday and Tuesday, saw further increases for palladium. On Wednesday and Thursday, the metal dropped back slightly. But, again like platinum, palladium regained the week’s losses on Friday and increased even more.
As stated earlier, both gold and silver achieved new highs. Let’s look at the 30-day performance table:
| 30 day high | 30 day low | Apr 8 Last | Difference between High and Low |
|
| Gold | $1,475.00 | $1,395.70 | $1,475.00 | 5.4% |
| Silver | $40.93 | $33.88 | $40.93 | 17.2% |
| Platinum | $1,813.00 | $1,689.00 | $1,809.00 | 6.8% |
| Palladium | $800.00 | $696.00 | $795.00 | 13.0% |
Platinum and palladium are still below their recent highs, but they are on an upward trend.
Let’s look at the week’s end close values in comparison to the previous week:
| Apr 1 Last | Apr 8 Last | Percent Change | Dollar Change |
|
| Gold | $1,428.90 | $1,475.00 | 3.2% | $46.10 |
| Silver | $37.83 | $40.93 | 8.2% | $3.10 |
| Platinum | $1,763.00 | $1,809.00 | 2.6% | $46.00 |
| Palladium | $773.00 | $795.00 | 2.8% | $22.00 |
Silver certainly wins the week in the percentage growth with gold and platinum almost at a tie on the dollar growth.
This was definitely an interesting week watching the metals’ performance. What will the next week entail? Who knows for sure, but it should be interesting – again.