This week, the metals show some hill climbing, some peaks and valleys, but perhaps more interesting is how the charts vary from metal to metal. In short, the metals’ charts do not follow consistent patterns.
First, there’s gold doing some climbing:
Silver is next with a short climb then a drop back:
Then, platinum goes up and down, too:
Palladium ends the list with another climb and a drop:
Generally, the platinum and palladium charts follow the same path just at different numbers. Looking at the charts above, their 30-day performance paths differ more than their usual patterns. The platinum chart includes more dramatic spikes and decreases as compared to palladium
In reviewing last Friday to this Friday, once again gold increased over the last week’s close where the other metals show slight decreases. For silver, platinum and palladium, increases occurred during the week with peaks on Tuesday for silver and platinum and Wednesday for palladium, but they dropped back below their last week’s numbers at the end of the week.
Gold, on the other hand, chose to climb during the week with only a slight drop at Friday’s close from Thursday’s performance.
The 30 day high and lows were:
| 30 day high | 30 day low | Aug 20 Last | Difference between High and Low |
|
| Gold | $1,233.50 | $1,157.00 | $1,228.00 | 6.2% |
| Silver | $18.54 | $17.47 | $18.02 | 5.8% |
| Platinum | $1,597.00 | $1,502.00 | $1,508.00 | 5.9% |
| Palladium | $514.00 | $438.00 | $474.00 | 14.8% |
Plus, here are the Friday close number comparisons:
| Aug 13 Last | Aug 20 Last | Percent Change | Dollar Change |
|
| Gold | $1,215.40 | $1,228.00 | 1.0% | $12.60 |
| Silver | $18.14 | $18.02 | -0.7% | -$0.12 |
| Platinum | $1,521.00 | $1,508.00 | -0.9% | -$13.00 |
| Palladium | $476.00 | $474.00 | -0.4% | -$2.00 |
Gold continues to be volatile and interesting from week to week. As such, TheStreet.com offers advice about gold in their article: Buying Gold: Avoid These Three Mistakes. They claim, “The gold market is ripe with peer-pressure buying. When gold makes a big double-digit move up or down, panicked retail investors can be tempted to either jump into the market for fear of missing the rally or to sell their positions because they don’t want to be stuck owning ‘cheap’ gold.” In summary, they state, “The three money-losing mistakes many investors make are overpaying for bullion, picking bad stocks, and buying ETFs for the wrong reasons.” Further, they provide advice on how to avoid the main mistakes.
Enjoy the entertainment of following the metals’ individual performances. If you want to invest in any of the metals, perform your due diligence research to make the best choice for your situation.