Bullion & Business Weekend Report - Mar 29
Precious metals climbed for the week, recovering somewhat from their large free-fall last week. Gold was weakest in its climb, rising just 0.4% on the London Fix. Silver and platinum increased 4.5% and 3.8% respectively.
The metals were agitated by a firming US dollar and weaker oil prices. In response to gold, James Moore from TheBullionDesk.com stated earlier Friday:
"The metal has failed to hold ground above 950 usd an ounce and has drifted lower this morning due to movements in oil and the dollar. Gold’s failure to hold above 950 usd an ounce suggests that in the short-term the market is still a little top heavy and will remain vulnerable to bouts of profit taking ahead of month/quarter end."
The silver, gold and platinum weekly charts and comparisons from last week are below. A Reuters business week wrap up video and three related articles links are included as well.
CoinNews London Fix Charts: Silver, Gold and Platinum
(March 25-28; Monday closed for holiday)
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 change after Friday’s close
|
Up
|
Down
|
Week % Change
|
Week $ Change
|
Friday Close
|
|
| Silver |
X
|
|
4.5%
|
$0.79
|
$18.36
|
| Gold |
X
|
|
0.4%
|
$3.60
|
$934
|
| Platinum |
X
|
|
3.8%
|
$72.00
|
$1,990
|
Week change numbers are for Tuesday-Thursday (holiday shortened week).
London Fix: previous week figures
|
Up
|
Down
|
Week % Change
|
Week $ Change
|
Friday Close
|
|
| Silver |
|
X
|
-16.20%
|
-$3.39
|
$17.53
|
| Gold |
|
X
|
-9.55%
|
-$98
|
$926
|
| Platinum |
|
X
|
-8.85%
|
-$177
|
$1,823
|
Week change numbers are for Monday-Thursday (holiday shortened week).
Bullion and business related articles for the week
In related news, interesting or quick-read articles:
- Mar 28 - Gold, Silver Fall as Oil’s Drop Reduces Inflation-Hedge Demand
- Mar 28 - Gold Plummets on Stronger Dollar
- Mar 28 - Metals - Gold drops towards 930 usd on solid US economic data
Business week overview and wrap-up by Reuters News
The three major US indexes:
-
The Dow lost 86.06 points Friday to close at 12,216.40. It lost 1.2% for the week.
-
The S&P 500 lost 10.54 points Friday to close at 1,315.22.
- The Nasdaq lost 19.65 points Friday to finish at 2,261.18. It gained 0.1% for the week.
The Reuters video recaps the business week.
CoinNews bullion and finance related collector tools
Bullion and finance tools that may interest you:
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March 30th, 2008 at 2:10 am
The week begin with bargain Monday for precious metal market. This good time to buy silver, gold, platinum, and palladium. Before price rise back up again!