The Friday Metals 04152011

For two of the metals, the close values during the week were down, down, up, up and up. The other two metals had a down, down, up, up and down week. Let’s view the charts.

First, there’s gold:

30 Day Gold Performance 04-15-2011

Next is silver:

30 Day Silver Performance 04-15-2011

Third is platinum:

30 Day Platinum Performance 04-15-2011

Fourth is palladium:

30 Day Palladium Performance 04-15-2011

After ending the previous week on a new, all-time high, gold lost value on Monday to close at $1463.20 and lost again on Tuesday with a close of $1453.70. During the day, there were even lower numbers. At one time on Tuesday, the yellow metal fell to just above $1445. Never fear, though, Wednesday, Thursday and Friday saw increases in each day’s closing numbers. Plus, on Thursday just before midday, the values started climbing and didn’t really fall back again, even during the trading day.

Similarly, silver ended the previous week on a new high value and even climbed higher to almost $42 in the early am Monday Asian market, but it dropped significantly during the day, even under $40 in the midafternoon. Monday’s close, however, was not below $40, but Tuesday’s activity saw more ups and downs during the day, some below $40, with the closing value down just slightly from the previous day.  Silver began a slight upward climb on Wednesday, continued up on Thursday and again on Friday. In fact, during each trading day, the numbers never fell below the previous day.

Platinum performed differently. On Monday, platinum closed with a loss of all of the significant gain it achieved the previous Friday. Tuesday saw another decrease, but on Wednesday and Thursday, platinum climbed again – not quite regaining all the lost value. Friday’s trading drove the numbers back downward slightly.

Palladium also started the week on a downward direction. It lost all of the gains of the previous week on Monday and Tuesday. The values started upward on Wednesday, continued on Thursday, but fell back on Friday to a point lower than that of April 1st.

With their week ending on an upward trend, both gold and silver achieved new highs. Gold has an all-time high, and silver’s high hasn’t been in the mid-40s for over 30 years.

Let’s look at the table for the metals’ 30-day highs and lows:

  30 day high 30 day low Apr 15 Last Difference between
High and Low
Gold $1,486.40 $1,398.50 $1,486.40 5.9%
Silver $43.05 $34.23 $43.05 20.5%
Platinum $1,810.00 $1,689.00 $1,789.00 6.7%
Palladium $798.00 $696.00 $765.00 12.8%

 

Just look at silver – it’s swing between high and low is over 20%.

Now, let’s see how the metals compare, this week to the previous week:

  Apr 8 Last Apr 15 Last Percent Change Dollar
Change
Gold $1,475.00 $1,486.40 0.8% $11.40
Silver $40.93 $43.05 5.2% $2.12
Platinum $1,809.00 $1,789.00 -1.1% -$20.00
Palladium $795.00 $765.00 -3.8% -$30.00

 

Gold has the larger dollar increase, but silver wins in the percentage increase category. Platinum and palladium couldn’t recover their lost ground and show negatives in comparison.

What will next week bring? Will silver hit $50 before the summer? What about gold? Will it go to $1500? Who knows for sure, but if these recent upward trends continue, both gold and silver could soon break through those levels.