The Friday Metals 10292010

Ups and downs, downs and ups…another crazy week on the metals market.

Let’s look at the charts.

First, there’s gold. Earlier in the month, gold climbed to its highest point. Last week, gold fell dramatically and seemed to want to stay in the lower area this week. This afternoon, which is not shown on the chart, gold decided to climb again to almost $1360.

30 Day Gold Performance 10-29-2010

Next, there’s silver with the lowest rate in comparison to the other metals, but it enjoyed some of the strongest growth. Silver fell last week, and somewhat similar to gold, wanted to stay at a lower rate this week. Again, Friday afternoon provided a spike in silver to a new 30-day high at over $24.70.  

30 Day Silver Performance 10-29-2010

Platinum’s 30 day performance looks like sawtooth moutain ranges with the ups and downs. Friday afternoon investing was good to platinum too in that the rate went back over $1700.

30 Day Platinum Performance 10-29-2010

Palladium, similar to the other metals, experienced climbs and falls during the last 30 days. But, take a look at this week. Palladium investors drove the prices up significantly to end the week at a new, recent high of over $640.

30 Day Palladium Performance 10-29-2010

With the global market dancing to the tune of economic woes and political uncertainty, these four metals certainly bounced around along with the stock and currency trading.

Let’s take a look at the Friday afternoon numbers for the metals and their 30 day highs and lows through yesterday.

  30 day high 30 day low Oct 29 Last Difference between
High and Low
Gold $1,381.20 $1,289.00 $1,359.60 6.7%
Silver $24.63 $21.16 $24.74 14.1%
Platinum $1,723.00 $1,612.00 $1,703.00 6.4%
Palladium $628.00 $543.00 $646.00 13.5%

 

Gold and platinum increased today but not to the extent to generate a new, recent high. On the other hand, both silver and palladium increased significantly.

Let’s see how this week compares to last week:

  Oct 22 Last Oct 29 Last Percent Change Dollar
Change
Gold $1,327.90 $1,359.60 2.4% $31.70
Silver $23.29 $24.74 6.2% $1.45
Platinum $1,673.00 $1,703.00 1.8% $30.00
Palladium $589.00 $646.00 9.7% $57.00

 

In recent weeks, gold enjoyed the largest dollar and silver the largest percentage increase from Friday to Friday. This week, however, palladium knocked both metals out of their coveted spots and gained the largest dollar and largest percentage increase of $57 and 9.7% respectively.

Next week includes the first Tuesday in November which is election day. It will be interesting to see how the metals perform prior to and after Tuesday.

Sit tight, watch the fun and remember to vote.