Posts Tagged With: Palladium

Precious Metals Market Update………..

The metals markets open the new week battered after a second week of heavy selling that pushed prices through lower support levels. These prices have not been seen since last August.

Prices suffered last week after traders in the futures markets sold in reaction to bearish technical signals, including gold’s 50-day average price falling below the 200-day average. Investors also reacted to the release of the latest Federal Reserve meeting minutes which included hints that the Fed may need to tighten monetary policy.

As usual, the heavy selling in futures markets was met with heavy buying in the physical bullion markets. Bargain hunters came out to take advantage of the big downward move and kept our Specialists at Independent Living Bullion very busy.
Current spot prices:
Gold: $1,590oz, down $21 (was $1,611) from this time a week ago.
Silver: $29.10- down $.99 (was $30.09) week-over-week.
Platinum: $1,623 – down $67 (was $1,690) since last Monday.
Palladium: $753/oz – down $8 (was $761) from this time a week ago.

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Precious Metals update…..

gold trades at $1,663/oz, up $3 from last week. Spot silver trades at $30.15 – down 5 cents from a week ago.
Platinum and Palladium are set to finish 2012 outperforming gold and silver – both up roughly 10%. Currently platinum trades at $1,527/oz (down $20 versus last Monday). The palladium spot price is $703/oz up $12 week over week

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Precious Metals Market Update…..

The COMEX will close early today and will reopen for trading on Wednesday the 26th. Currently gold prices are trading at $1,660.40/oz, up slightly from Friday’s close but off $36 compared to this time a week ago. Spot silver trades at $30.20, moving up from last Friday’s close as well. Week over week, silver is down $2.10. Platinum trades at $1,547/oz (down -4.1% from $1,613 from the previous week’s close), and palladium comes in at $691/oz (down just 0.7% from the week earlier).

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Precious Metals Market Update……

All metals are up from the close on Friday. Gold currently trades at $1,714, down $4 compared to this point a week ago. Silver trades at $33.34, essentially unchanged week over week. Platinum is currently at $1,622 up 1.1%), while recent outperformer palladium comes in at $702 (+/-3.1%).

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Precious Metals Market Update…..

As Americans prepare for Turkey Day, the threat of Washington “gobbling” up more in taxes could continue to weigh on markets. The upshot is that precious metals appear to be resuming their role as a safe haven in this politically treacherous environment.
Gold and silver have shown remarkable resilience to adverse equity market conditions seen since the election. Over the same period that the S&P 500 has fallen roughly 5%, precious metals have traded modestly higher.
Last week, gold and silver relinquished some of the prior week’s big gains, but have been building a strong base for a likely rally into 2013. For the week, gold fell $17/oz (-1.0%) to $1,715. Silver lost $0.30/oz (-0.9%) and finished at $32.37. Both gold and silver are up substantially this morning.
Platinum and Palladium dodged the negative sentiment impacting most asset markets and put on some gains. Platinum rose $6/oz (+0.4%) to end the week at $1,564. Palladium – the best performing precious metal during the week – jumped $20/oz (+3.3%), closing at $631/oz.

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