It’s Friday again. Let’s take a look at the metals this week.
First, there’s gold:
Next comes silver:
Then, there’s platinum:
Palladium finishes the list:
Gold dropped slightly on Monday went back up on Tuesday and encountered another drop on Wednesday. On Thursday, gold rose to a 30-day high (but not the highest for the year – yet) with a small drop backwards for the Friday Wall Street close at 4:00.
Silver followed a similar path with a slight drop on Monday, an increase on Tuesday and another drop on Wednesday. Like gold, silver went back up on Thursday, however if you look at the close numbers for today, unlike gold, silver continued its rise.
Whereas gold has been climbing, for the most part, for the last 30 days, platinum has seen more volatile peaks and valleys. Platinum started the week lower than last Friday and continued downward for Tuesday. But, unlike gold and silver, platinum increased on Wednesday and further increased on Thursday. Today’s close numbers follow that upward trend. But, platinum has yet to grow past its 30 day peak value.
Very much like platinum’s performance, palladium started the week down from last Friday. On Tuesday, palladium began its growth at a much steeper rate of ascent. Plus, palladium achieved a new 30 day peak, though it is not the highest for the year (again, yet).
Remember, the charts end on Thursday. Let’s look at today’s close figures along with the 30 day highs and lows:
| 30 day high | 30 day low | Sep 3 Last | Difference between High and Low |
|
| Gold | $1,251.30 | $1,184.00 | $1,246.60 | 5.4% |
| Silver | $19.65 | $17.88 | $19.85 | 9.0% |
| Platinum | $1,590.00 | $1,494.00 | $1,551.00 | 6.0% |
| Palladium | $522.00 | $464.00 | $528.00 | 11.1% |
As the table shows, both silver and palladium gained new 30 day highs with their Friday performances.
Now, let’s look at the metals’ performance against the figures for last Friday:
| Aug 27 Last | Sep 3 Last | Percent Change | Dollar Change |
|
| Gold | $1,238.10 | $1,246.60 | 0.7% | $8.50 |
| Silver | $19.11 | $19.85 | 3.9% | $0.74 |
| Platinum | $1,531.00 | $1,551.00 | 1.3% | $20.00 |
| Palladium | $503.00 | $528.00 | 5.0% | $25.00 |
Every metal grew this week with palladium having the biggest growth in both percentage and absolute dollars.
As the November elections draw nearer and as the economy meets its challenges, the metals will continue their volatile entertainment.