- Posted in: Precious Metals Reports
This week’s Weekly Market Report for Precious Metals saw increases in the spot prices of Silver and Palladium. Gold was up, too, if not as dramatically. Platinum was the only PM on our report to see an overall loss for the week.
Reports on U.S. construction spending saw only minuscule gain, while a U.S. manufacturing report showed a drop since February.
Job Report Could Mean Changes in Market
The week ahead may bring changes as the jobs report comes in on Friday. President Trump meets with China’s Xi Jinping this week, too, which could spell a shift in the trade imbalance between the two countries.
With premiums on gold and silver much lower than usual, buying physical precious metals now is an excellent way to boost your portfolio or add to your precious metals holdings.
The spot price of gold started the week on Mar. 28 at $1,253.50, but by the 29th, it was at $1,248.10. The price rebounded to $1,253.40 just before a dip saw the price at $1,249.50 at start of day on the 30th. The price continued to follow a downward trend throughout the 30th, reaching $1,240.20 just before the day began on the 31st. The price at close of day on Friday was at $1,249.20. Monday saw another drop to $1,245.90, but before the day was over, gold had reached $1,256.50.
Early in the day on Tuesday, silver was at $18.01. After two short peaks, the price fell back again to 18.03 to start the day on Wednesday. Silver then climbed steadily, reaching $18.21 just before an early morning drop to $18.13 on Thursday. On Friday, it was back to $18.03 but trended upward after that, ending for the weekend at $18.24. Monday saw the price fall back again to $18.11 before rising again to reach a new high for the week at $18.25.
Platinum started the week on Tuesday at $966.00. Through the next hours, it fell to $948.00 and ended the day at $952.00. Wednesday’s curve saw a peak at $957.00, but a low on Thursday of $944.00. A sharp downturn on Friday put the spot price of platinum at $939.00. Platinum rebounded somewhat and ended at $948.00 for the weekend. Post-weekend, platinum rose to $954.00 for a brief time, but then saw a downward arc to $947.00 on Monday. Monday evening, the price was at $958.00.
The price of palladium started out on the 28th at $789.00. Palladium trended upward for a time, reaching $792.00 at midday and $793.00 on the 29th. A gradual drop saw the price at $786.00 on the 30th. A short and sudden spike saw the price at $803.00 just before midday. After that, the price quickly started moving downward, falling to $791.00 on Friday. Palladium was at $797.00 for the weekend. Late in the day on April 2, the price went up to $801.00. By just after noon on Monday, palladium was at $804.00.
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