Another week ended on the bullion precious metals market with all four metals following different up and down paths throughout the week. After having a couple of really bad weeks, palladium was this week’s winning precious metal.
Let’s look at the graphs. First, there’s gold:
Next is silver:
Third is platinum:
Last is palladium:
Palladium may be the overall winner for the week, but the gold precious metal did very well too. Monday through Wednesday saw the gold market increase over the previous day’s close. On Thursday, gold encountered a small setback while the metal held constant on Friday.
Silver performed well overall, even though more days closed down than up. Both Monday and Wednesday saw significant increases in the silver precious metal. On the other hand, the Tuesday, Thursday and Friday silver markets closed with slight decreases from the previous day’s close.
The platinum precious metal increased week-over-week, but it struggled in last position in comparison to its counterparts. Opposite silver’s performance, platinum closed up more days than down, but its increases were not significant in relation to its overall value.
Following two bad weeks including ending last week going downward, the palladium precious metal began the week moving upward and continued up every day. It almost recovered to its value before the bad two weeks, but not quite. The palladium market needed just $14 more for the metal to climb completely out of its valley.
Let’s review the bullion precious metals’ prices over the last 30 days performance period:
| 30 day high | 30 day low | Dec 2 Last | Difference between High and Low |
|
| Gold | $1,795.60 | $1,676.00 | $1,745.30 | 6.7% |
| Silver | $34.98 | $30.90 | $32.64 | 11.7% |
| Platinum | $1,661.00 | $1,515.00 | $1,543.00 | 8.8% |
| Palladium | $673.00 | $563.00 | $642.00 | 16.3% |
Only two of the high and low values changed this week. One, the silver precious metal high decreased slightly as its earlier high moved off the rolling 30-day time period. The second, platinum’s low value changed as the precious metal dropped significantly on the Wednesday London AM market.
Silver and palladium continue to have the largest percentage differences in their 30-day high and low values. If you are both good and lucky, the two precious metals gave you many opportunities to take advantage of those percent differences
As noted above, all four of the precious metals increased week-over-week:
| Nov 25 Last | Dec 2 Last | Percent Change | Dollar Change |
|
| Gold | $1,680.30 | $1,745.30 | 3.9% | $65.00 |
| Silver | $30.98 | $32.64 | 5.4% | $1.66 |
| Platinum | $1,524.00 | $1,543.00 | 1.2% | $19.00 |
| Palladium | $563.00 | $642.00 | 14.0% | $79.00 |
In looking across the four precious metals, palladium was the clear winner with the largest dollar ($79) and largest percentage (14%) increases from the previous Friday’s close to this week’s close. But, gold was not far behind in the dollar increase at $65.
With the significant increase in gold and the smaller increase in platinum, the two metals fall further apart. Now, platinum’s lag is back to over $200 behind gold. Just one short year ago, the platinum precious metal was over $310 more than gold. That’s more than a $500 swing between the two metals in just a year. Amazing.
Let’s take a quick look at the New York closing values for the precious metals prices during past week:
| mon | tues | wed | thu | fri | |
| gold | $1,709.90 | $1,715.40 | $1,749.40 | $1,745.30 | $1,745.30 |
| platinum | $1,539.00 | $1,535.00 | $1,556.00 | $1,561.00 | $1,543.00 |
| silver | $32.06 | $31.92 | $32.83 | $32.73 | $32.64 |
| palladium | $577.00 | $585.00 | $610.00 | $629.00 | $642.00 |
In looking back over the past few weeks, the precious metals’ prices bounced almost like the ball at the Fox Theatre’s movie night sing-a-longs!
As the year winds down, the precious metals – in particular gold and silver prices – will continue to be interesting.