Precious metals moved lower this week. London gold lost 2.5 percent, silver fell 4.9 percent, and platinum plummeted 8.4 percent. Crude-oil rallied to its highest close since the end of March, pushing above $53 a barrel. The blue-chip Dow and the S&P returned to positive territory after breaking away from a prior a six-week winning streak. The Nasdaq is now up for week eight. European stocks closed higher.
Spot precious metals figures follow:
London silver ended Friday at $12.15 an ounce, falling 63 cents this week.
London gold was fixed at $884.50 an ounce, losing $23.00 for the week.
London platinum fell to $1,076.00 an ounce, plunging $99.00 on the week.
Friday’s action in the metals markets was still dominated by sellers," wrote Jon Nadler, senior analyst at Kitco Bullion Dealers. "Gold and the rest of the complex yielded in the wake of liquidations engendered by persistent IMF gold sales talk and by rising interest among some investors in other markets."
"I am still bullish on gold," Philip Gotthelf, the president of Equidex Brokerage Group Inc., was quoted on Bloomberg. "If the financial woes continue through June, the June contract will probably reach $1,000 an ounce. If the problems continue through July, we will see the October gold contract at $1,200 an ounce if not $1,500."
To follow are silver, gold and platinum performance charts and tables, precious metal article links, oil news and week-ending world stock summaries.
London Fix Charts: Silver, Gold and Platinum
(April 24 – May 1)
The London Fix is one of the most used bullion quotes around the world. The London AM fix for gold and platinum begins at 10:30am GMT (5:30am in New York), and the PM fix begins at 3pm GMT (10am in New York). The London Fix for silver begins each business day at 12pm GMT (7am in New York).
London Fix figures: percent and dollar changes*
(April 24 – May 1)
|
Up
|
Down
|
Week % Change
|
Week $ Change
|
Friday Close
|
|
| Silver |
|
X
|
-4.9%
|
-$0.63
|
$12.15
|
| Gold |
|
X
|
-2.5%
|
-$23.00
|
$884.50
|
| Platinum |
|
X
|
-8.4%
|
-$99.00
|
$1076.00
|
(April 17 – April 24)
|
Up
|
Down
|
Week % Change
|
Week $ Change
|
Friday Close
|
|
| Silver |
X
|
|
6.7%
|
$0.80
|
$12.78
|
| Gold |
X
|
|
4.3%
|
$37.00
|
$907.50
|
| Platinum |
|
X
|
-3.3%
|
-$40.00
|
$1175.00
|
(April 9 – April 17)
|
Up
|
Down
|
Week % Change
|
Week $ Change
|
Friday Close
|
|
| Silver |
|
X
|
-2.6%
|
-$0.32
|
$11.98
|
| Gold |
|
X
|
-1.1%
|
-$10.00
|
$870.50
|
| Platinum |
X
|
|
1.7%
|
$20.00
|
$1215.00
|
(April 3 – April 9)
|
Up
|
Down
|
Week % Change
|
Week $ Change
|
Thursday Close
|
|
| Silver |
|
X
|
-4.4%
|
-$0.56
|
$12.30
|
| Gold |
|
X
|
-2.7%
|
-$24.50
|
$880.50
|
| Platinum |
X
|
|
3.1%
|
$36.00
|
$1195.00
|
(March 27 – April 3)
|
Up
|
Down
|
Week % Change
|
Week $ Change
|
Friday Close
|
|
| Silver |
|
X
|
-2.7%
|
-$0.36
|
$12.86
|
| Gold |
|
X
|
-2.1%
|
-$19.00
|
$905.00
|
| Platinum |
X
|
|
2.5%
|
$28.00
|
$1159.00
|
Bullion articles of interest
In related news, interesting or quick-read articles:
- May 1 – Gold falls on hopes for economic recovery; copper gains – MarketWatch
Gold futures fell Friday for a second session, extending their weekly loss to nearly 3% as economic recovery hopes reduced gold’s appeal as a safe asset. Copper ended the week up 2.6%…
- May 1– Gold Falls, Caps Biggest Weekly Drop in Month, as Equities Gain – Bloomberg
Gold futures fell, capping the biggest weekly decline in a month, as rising equities reduced demand for the precious metal as an alternative investment. Silver gained…
- May 1 – May Day May Say…An Agenda at Play – Jon Nadler, Kitco
Friday’s action in the metals markets was still dominated by sellers. Gold and the rest of the complex yielded in the wake of liquidations engendered by persistent IMF gold sales talk and by rising interest among some investors in other markets…
- April 30 – First Spouse Gold Coin Sales Figures – First Spouse Coins
First Spouse Gold Coins were mostly mixed with flat or declining sales, the US Mint’s latest sales report shows. The uncirculated Anna Harrison First Spouse Coin was the only option to rise over the prior report, with 82 more sold for an increase of 4.4 percent…
- April 30 – US Silver Coin Sales Stats – Silver Coins Today
Braille Bicentennial Silver Dollar sales skyrocketed and interest in other silver coins remained relatively strong, the latest United States Mint sales statistics reveal…
- April 30 – UHR & Louis Braille Soaring Sales Figures – CoinNews
Ultra High Relief (UHR) $20 gold coins break a new threshold and Braille Commemorative Silver Dollar sales soar, according to the latest US Mint sales report. Ultra High Relief (UHR) $20 gold coin sales cooled off compared to the last figures, but rose above the magic 60,000 barrier…
- April 28 – 2009 Silver Eagle Bullion Coins Scorching Hot – CoinNews
Sales of 2009 Silver Eagle Bullion Coins are blistering hot, with an incredible record-breaking pace of 9.67 million sold through April, according to the latest US Mint sales stats…
Reports on world business, oil prices and stocks
Crude-oil on Friday rallied $2.08, or 4.1 percent, to close at $53.20 a barrel. For the week, crude-oil gained $1.65, or 3.2 percent.
In consumer news, gas prices at the pump headed up this week. AAA on Saturday said the national average for unleaded gasoline was $2.061 a gallon, and seven-tenths of a cent higher than a week ago.
In U.S. stocks this week, the Dow Jones industrial average gained 1.7 percent, the S&P 500 index rose 1.3 percent, and the Nasdaq Composite index gained 1.5 percent.
Friday numbers for the three major US indexes follow:
-
The Dow gained 44.29 points to close at 8,212.41.
-
The S&P 500 rose 4.71 points, closing to 877.52.
- The NASDAQ climbed 1.90 points to finish at 1,719.20.
And in other world markets:
-
Markets were closed Friday in Germany, but the DAX ended the week at 4,769.45.
-
Markets were also closed Friday in France, but the Paris CAC 40 ended the week at 3,159.85.
- And the London FTSE 100 fell 0.49 points to close at 4,243.71.
U.S. auto sales slid in April to lows not seen in roughly 30 years. Conway Gittens reports on that and stocks in a weekly Reuters business summary.
Hello,
Why is everyone so bullish on gold and very little of the financial advisors discuss or tell the story of silver coins or bullion?? My study info suggestes silver will out shine gold in the very near future for various reasons with a 10 times greater return on investment then gold. What is the deal that this story is not being told or screamed??