What a week with the metals – especially gold and silver! Gold almost, not quite but almost, kissed $1300 an ounce this week.
Before we look at the charts, remember they only go through Thursday. The tables show the Friday close information which in all cases reflect a number higher than the 30 day highs in the charts.
First, there’s gold:
Next is silver:
Last is palladium:
Interesting. Gold climbed for the entire week where silver had a small dip on Monday but climbed for the rest of the week. Both platinum and palladium dipped on Tuesday before beginning their climb for the rest of the week.
Let’s look at the end of the week numbers which include the 30 day highs and lows. But, the highs and lows do not include today’s numbers. Of particular interest, all four metals ended the week higher.
|30 day high||30 day low||Sep 24 Last||Difference between
High and Low
But, how does today’s close compare to last Friday’s close numbers:
|Sep 17 Last||Sep 24 Last||Percent Change||Dollar
Silver experienced the biggest percentage gain over last Friday with platinum enjoying the biggest dollar gain.
Both gold and silver have new highs for this week. Gold’s high is an all time high, but lest we forget, silver’s high doesn’t come anywhere near the numbers in the 1979-1980 time frame. Of course, people argue that those silver highs were artificially generated by a certain set of brothers.
Regardless, those silver highs were more than twice today’s highs, and that’s excluding inflation.
Water under the bridge…we need to focus on today’s marketplace and today’s prices. They remain amazingly entertaining.
Will gold reach $1300 next week? Will silver top $22? Will platinum and palladium regain ground lost from their five year highs of $2252 and $579 respectively?
The next few weeks promise to be interesting with the economic and political volatility both here and abroad.
Let’s sit back and watch to see what the metals do.