- Posted in: Precious Metals Reports
This Weekly Market Report for Precious Metals saw Gold, Silver, Platinum and Palladium all fall to below their early-week levels.
Fed Chair Janet Yellen revealed on Monday that her goal is to stick with the healthy economy, making few and gradual changes in interest rates for the foreseeable future. Yellen said the economy is so near the goal of full employment that it will arrive there simply by coasting through the upcoming changes.
Despite global concerns over events in Syria and North Korea, gold saw only slight and temporary gains. However, as these concerns are far from over, they could become the impetus for higher gold prices and precious metals prices across the board.
The concept of gold as a safe-haven investment is far from new. Since ancient times, those who could acquire gold held on to it to increase their tangible wealth, save for the future and prepare themselves for future economic upheavals. Just like it was so long ago, gold gives stable and lasting wealth.
Gold started the week on Tuesday with a healthy spot price of $1,255.40 and then climbed to $1,260.00. After that, a downward trend started, bringing the price down to $1,245.10 on Wednesday. A rebound to $1,258.10 just before Thursday ended quickly. The price of Gold fell to $1,250.50 and remained near that mark until late on Thursday, when the price shot up to $1,264.40. On Friday, Gold’s fortunes turned after rising above $1,270.00, leaving it at $1,253.90 for the weekend. Monday saw gold prices at $1,248.30 before they began to go up again.
On Tuesday, April 4, Silver was at $18.27 per ounce on the spot price charts. Just before the beginning of the 5th, the price was at $18.20. A brief peak of $18.30 on Wednesday was followed by a decline that saw the price at or near $18.20 again for most of the day Thursday. In the wee hours before Friday began, Silver was at $18.41. Silver began the weekend at $17.96. On Monday, the price fell to $17.79 before rising again to $17.97.
The early price for Platinum on Tuesday, April 4 was $955.00. Early on Wednesday, Platinum spiked to $966.00 before falling again to $950.00 on Thursday. From there, the price gained to $964.00 just before Friday started, and remained at or near that level for most of Friday. Just before the weekend, the price fell to $952.00. Monday saw losses, and Platinum reached a new low for the week when it fell to $936.00.
Palladium was on its way up when Tuesday, April 4 began with the price at $802.00. The rising trend ended early on Tuesday after reaching a peak of $807.00. By the time Wednesday started, the price of Palladium was at $801.00. Another peak saw the price at $812.00 before a downward trend saw Palladium fall to $799.00 on Thursday. For most of the day on Friday, Palladium was between $807.00 and $804.00. Just before the weekend, the price fell to $798.00. A falling trend dominated Palladium’s Monday, with prices at $788.00 for most of the day.
Learn More About Precious Metals Investing
If you would like to learn more about the Precious Metals Market and how you can take advantage of the investment potential of gold, silver, platinum and palladium: contact a GMRgold representative at (877) 795-9585 today!