Bullion & Business Weekend Report
Platinum blasted through several records this week with a final London close of $2,060 and up an impressive 8.54% for the week.
With the rapid rise in platinum, the United States Mint suspended platinum coin sales to readjust prices. That, after just lifting the previous suspension last week.
What’s causing platinum gains? South Africa, who produce nearly 80 percent of the world’s platinum, is strangled by power shortage realities. Major mining companies are operating below capacity and have revised their production forecasts, resulting in platinum and reactionary moves.
Silver and gold plodded along this week with no excitement. Silver gain a penny and gold lost $13.
The silver, gold and platinum weekly charts are below as well as the Reuters business week wrap up video and three related articles.
CoinNews London Fix Charts: Silver, Gold and Platinum
(February 11-15)
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 numbers: percent and dollar change after Friday’s close
|
Up
|
Down
|
Week % Change
|
Week $ Change
|
Friday Close
|
|
| Silver |
X
|
|
0.06%
|
$0.01
|
$17.38
|
| Gold |
|
X
|
-1.40%
|
-$13
|
$913
|
| Platinum |
X
|
8.54%
|
$162
|
$2,060
|
Bullion and business related articles for the week
In related news, interesting or quick-read articles:
- Feb 15 - Gold ends down; platinum hits another record
- Feb 15 - Indians buy 774 tonnes of gold in calendar 2007
- Feb 14 - Platinum Price Jumps, Sets Record, and Results in United States Mint Coin Suspensions
Business week wrap-up video by Reuters News
The three major US indexes:
-
The Dow lost 28.77 points Friday to close at 12,348.21. It gained 1.4% for the week.
-
The S&P 500 gained a 1.13 points Friday to close at 1,349.99
- The Nasdaq lost 10.74 points Friday to finish at 2,321.80. It gained 0.7% for the week.
The Reuters video recaps the business week.
CoinNews bullion related collector tools
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February 17th, 2008 at 3:15 am
It look like that you can get rich by buying Platinum Coins and Bullions! If you have purchased Platinum Eagle Proof Set in 1997 or 1998 for $1350, you have made good profit! Soon Platinum will reach $3000 very soon! And Gold to $2000 and Silver to $25. And Palladium to $500 per ounce!