The Friday Metals 07-22-2011

Buy Gold American Eagles

Up, down, up, down, up – at least that was true for gold and silver. Platinum and palladium also had ups and downs. Platinum experienced only one down while palladium had more ups than downs but ended the week on a small down.

All of the metals gained new, recent highs with gold reaching another all-time high point.

The charts — first, there’s gold:

30 Day Gold Performance 07-22-2011

Next is silver:

30 Day Silver Performance 07-22-2011

Third is platinum:

30 Day Platinum Performance 07-22-2011

Fourth is palladium:

30 Day Palladium Performance 07-22-2011

All four metals started their week up from the previous Friday’s New York close. Both gold and silver reached new peaks on Monday with gold’s peak being a new, never-before-reached high point. Silver broke back through the $40 barrier to gain a new 30-day high point but did not reach a new overall high.

From Monday’s high close, gold and silver dropped on Tuesday, gained on Wednesday, fell on Thursday and climbed on Friday. Even though the metals ended the week upward, they did not quite regain their Tuesday values.

On a different performance path, platinum increased slightly on Monday, fell backward on Tuesday then climbed for the remainder of the week. Platinum’s week ended on a new 30-day high.

Palladium, too, performed differently. Palladium grew quite a bit before Monday’s close then lost roughly half of its gain on Tuesday. Wednesday and Thursday saw more increases to a new 30-day high on Thursday. Friday’s market experienced a backward move, but a small one.

Let’s take a look at the new 30-day highs and lows for this week. Note that all the metals changed their high values, and all kept their low points for this time period.

  30 day high 30 day low Jul 22 Last Difference between
High and Low
Gold $1,605.10 $1,483.00 $1,600.30 7.6%
Silver $40.55 $33.58 $40.07 17.2%
Platinum $1,793.00 $1,674.00 $1,791.00 6.6%
Palladium $807.00 $724.00 $804.00 10.3%


As you see in the charts and table, the closing values for gold and silver did not quite rebound to their Monday high points. Also note that the high for platinum is different from the closing value. This high point happens to come from the London PM market while the closing value is from the New York market which did not get quite as high.

The next table compares Friday closing values from last Friday (7/15)  to this Friday (7/22):

  Jul 15 Last Jul 22 Last Percent Change Dollar
Gold $1,594.10 $1,600.30 0.4% $6.20
Silver $39.27 $40.07 2.0% $0.80
Platinum $1,761.00 $1,791.00 1.7% $30.00
Palladium $781.00 $804.00 2.9% $23.00


Where last week gold and silver won the contests, this week platinum has the largest dollar increase while palladium has the biggest percentage increase. Of course, the gold and silver performances are significant, just not as large.

So, what will the metals do in the upcoming week?

In all likelihood, there will be sizeable changes in response to the political battles in Washington, DC and the global issues with the Euro. But, the market is capricious — these sizeable changes could be both up and down as evidenced this last week.

As always, be alert to the markets and perform your own research to find the best investment vehicle(s) for your situation. 

With tongue-in-cheek and stating the obvious, remember, it’s better to buy low and sell high.

Buy Gold American Eagles