Gold and platinum dazzled this week and closed Friday at all-time highs. Bullion prices were spurred along by the Fed’s emergency rate reduction last Tuesday, the expectations of further cuts in their next meeting on Wednesday, the dollar’s weakness, solid oil prices and the closing of South African mines on Friday due to a power crisis.
At a glance London Fix numbers after Friday’s close:
|
Up
|
Down
|
Week % Change
|
Week $ Change
|
Friday Close
|
|
| Silver |
X
|
4.8%
|
$0.76
|
$16.53
|
|
| Gold |
X
|
5.0%
|
$44
|
$918
|
|
| Platinum |
X
|
8.7%
|
$134
|
$1,681
|
The silver, gold and platinum weekly charts are below as well as the business week wrap up video, an interesting video regarding gold and platinum from a Midas Fund Manager and three related articles.
CoinNews London Fix Charts: Silver, Gold and Platinum
(January 21-25)
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).
Gold Getting Attention
This MarketWatch video interview was conducted on Tuesday with Thomas Winmill, Portfolio Manger of the Midas Fund. The fund is up six fold and was ranked #2 in 2007 for precious metals by Morningstar. Winmill discusses gold and platinum.
Bullion and business related articles for the week
In related news, interesting article reads:
- Jan 26 – But will the Fed cat bounce?
- Jan 26 – S African power cut drives up gold prices
- Jan 26 – Spike in Gold Prices Draws Prospectors
Business week wrap-up video by Reuters News
The three major US indexes lost ground Friday and were mixed for the week:
-
The Dow lost 171.44 points Friday to close at 12,207. It gained 0.90% for the week.
-
The S&P 500 lost 21.46 points Friday to close at 1,331.
- Nasdaq gave up 34.72 points Friday to finish at 2,326. It was down 0.60% for the week.
The video here includes these details and more:
CoinNews bullion related collector tools
Bullion related calculator and currency tools that may interest you:
Last week price of Silver, Gold, and Platinum rises very sharply on shortage of gold and platinum. If there is a shortage of any precious metals prices will rise for sure. This is a good news for someone who owns Gold and Silver Bullions and Platinum Bullions as well. Also good news for who owns rare coins and proof and mint sets. This is why it became a Numismatist’s paladise or heaven!