Precious metals surged this week, with London gold rising 2.5 percent, silver soaring 14.4 percent, and platinum jumping 6.8 percent. In black gold, crude-oil closed at its highest point this year to near $59 a barrel. The Dow and S&P climbed to extend gains for eight of the last nine weeks while the Nasdaq increased its winning streak to nine straight weeks. European stocks ended higher as well.
Spot precious metals figures follow:
London silver ended Friday at $13.90 an ounce, soaring $1.75 this week.
London gold was fixed at $907.00 an ounce, rising $22.50 for the week.
London platinum surged to $1,149.00 an ounce, gaining $73.00 on the week.
"Gold, for its part, took the jobs data and read deflation into the equation," wrote Jon Nadler, senior analyst at Kitco Bullion Dealers. "Once the absence of inflationary anticipation was removed from today’s speculative formula of the day, the metal eased back. Gold had been advancing largely on stock market shadow-play, rather than a flight to safe-havens. The broad $850/$950 price range remains in place."
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
(May 1-8)
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*
(May 1-8)
|
Up
|
Down
|
Week % Change
|
Week $ Change
|
Friday Close
|
|
| Silver |
X
|
|
14.4%
|
$1.75
|
$13.90
|
| Gold |
X
|
|
2.5%
|
$22.50
|
$907.00
|
| Platinum |
X
|
|
6.8%
|
$73.00
|
$1149.00
|
(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
|
Bullion articles of interest
In related news, interesting or quick-read articles:
- May 8 – Gold falls as jobs data clip economic worries – MarketWatch
Gold futures fell Friday for the first session in five, ending slightly lower as government data showed the U.S. economy lost fewer jobs than expected in April, easing economic worries and curbing gold’s appeal as a safe asset…
- May 8 – Gold, Silver, Platinum Fall as Job Losses Dim Inflation Outlook – Bloomberg
Gold slipped as the U.S. jobless rate rose, reviving concern that a slowing economy may spur deflation and erode the appeal of precious metals as hedges against inflation…
- May 8 – High (Yo) Silver Surplus – 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…
- May 7 – Braille Dollars Strong, UHR’s Near 61K, Puerto Rico Quarters Surge – CoinNews
Braille Silver Dollars are selling robustly, UHR $20 gold pieces near a new level, and Puerto Rico 100-coin quarter bags pass 30,000, according to the latest US Mint sales report. While sales of Braille Silver Dollars slipped compared to previous week’s figures that were simply out of this world crazy, collectors are still buying the coins at a remarkable pace…
- May 6 – First Spouse Gold Coin Sales – First Spouse Coins
First Spouse Gold Coin sales dropped across all but two proof options, the latest United States Mint sales figures reveal. Jackson’s Liberty and Louisa Adams proof coins managed to remain level without declines, and came in with…
- May 6 – US Silver Coin Sales – Silver Coins Today
Demand for silver coins and sets dipped slightly compared to last week’s report, and according to the newest US Mint sales data. The story is still about Braille Silver Dollars. More than one third of the possible 400,000 have now been sold…
- May 4 – Eagle Gold Bullion Coin Sales Strongest Since 1999 – CoinNews
2009 American Eagle Gold Bullion Coin sales are off to the quickest start in ten years and have recorded the third best performance since the series began in late 1986, according to the latest United States Mint coin sales statistics…
- May 3 – American Eagle Silver Bullion Coins Smash Sales Records – Silver Coins Today
2009 American Eagle Silver Bullion Coins have shattered past monthly sales records, and are racing toward a dramatic historic yearly total. Earlier this year, Silver Coins Today showed record eagle sales for the first two months of 2009. Demand for the eagles by then had hit an all time February high and recorded the second best January since the coins launched in 1986…
Reports on world business, oil prices and stocks
Crude-oil on Friday rallied for the third straight day. Oil for June delivery climbed $1.92, or 3.4 percent, to $58.63 a barrel. It ended the week up 10.2 percent.
In news for consumers, gas prices at the pump soared this week. AAA on Saturday said the national average for unleaded gasoline was $2.195 a gallon, which is 13.4 cents higher than a week ago, and 14.4 cents higher than a month ago.
In U.S. stocks, the Dow Jones industrial average gained 4.4 percent for the week, and ended at the highest point since Jan. 9th. The S&P 500 index rose 5.9 percent, ending at the highest point since Jan. 6. The Nasdaq Composite index gained 1.3 percent.
Friday closing figures for the three major US indexes follow:
-
The Dow gained 164.80 points to close at 8,574.65.
-
The S&P 500 rose 21.84 points, closing to 929.23.
- The NASDAQ climbed 22.76 points to finish at 1,739.00.
And in other world markets:
-
The German DAX jumped 109.80 points to close at 4,913.90.
-
The Paris CAC 40 gained 61.07 points to close at 3,312.59.
- And the London FTSE 100 rose 63.41 points to close at 4,462.09.
The Nasdaq extended a rally to its longest winning streak since 1999 after fewer-than-expected job cuts in April and optimism after the bank stress test. Conway Gittens reports on that and stocks in a weekly Reuters business summary.
