The scene opens with two teenagers running from the blood thirsty monster chasing them. They haven’t seen the monster, but they know about it and know it is getting closer.
They enter an old high rise building and race to the elevator. The elevator starts upward slowly then picks up speed. The teenagers look at each other with relief. Before they can smile, the elevator suddenly drops. In their panic, the teenagers grab onto each other. The elevator jerks to a stop and begins to rise again.
The teenagers lean back against the sides of the elevator, breathe a sigh and begin to laugh at each other. But, before they feel relieved, the elevator drops again, faster and farther. The teenagers scream, grab each other and huddle on the floor. In moments, the elevator stops its fall and starts upward again.
People say that the market, stock or metals (commodities), climbs slowly upward like climbing stairs, but it goes downward rapidly like an elevator. In our little tongue-in-cheek story, the teenagers are silver investors and the monster is the bad economy. But, instead of stairs, silver has been climbing rapidly, but also falling rapidly – like a free falling elevator.
All of the metals this week did some downward free-falling but ended the week on an upward note. Reminder, the graphics do not include the Friday closing points, but in all cases, the metals closed up slightly from Thursday’s numbers.
First, there’s gold:
Next is silver – (riding the elevator up and down which can be seen more in the daily charts):
Third is platinum performing somewhat like gold with major drops before picking back up:
Last is palladium, a favorite to watch. It dropped, but not as far as gold and platinum, before turning upward again:
Interesting, very interesting.
Let’s see how the week closed and look at the highs and lows for the last 30 days:
|30 day high||30 day low||Nov 19 Last||Difference between
High and Low
Now, let’s compare the current week’s close to last Friday’s close:
|Nov 12 Last||Nov 19 Last||Percent Change||Dollar
Gold and platinum are down, but silver and palladium are up week over week. Palladium had the largest dollar increase but silver had the largest percentage increase.
During the next few weeks with the holidays and the buying patterns of shoppers on Black Friday and Cyber Monday, the metals will once again be fluctuating – probably in both directions.