Bullion & Business Weekend Report – April 4

by CoinNews.net on April 4, 2009 · 1 comment

For the second straight time, silver and gold ended lower on the week while platinum, oil and stocks finished higher. The London gold fixing was down 2.1 percent and silver dropped 2.7 percent. Platinum rose 2.5 percent.

Weekend Recap: Silver, Gold and Platinum Prices; Business Week NewsU.S. stocks rallied for the fourth consecutvie week. The Dow jumped 3.1 percent since last Friday’s close and marked its best four-week winning streak since 1933 with its rise of 21.5 percent.

The S&P 500 gained 3.3 percent for the week, and is up 24.5 percent since it had hit a 12-year low on March 9. The Nasdaq added 5.0 percent. European stocks were mixed.

In oil news Friday, job loss data pushed New York crude futures slightly lower. Crude for May delivery lost 13 cents, or 0.2 percent, to $52.51 a barrel. Oil rose 0.3 percent for the week and has posted gains for seven weeks in a roll. Meanwhile, AAA said the average price for unleaded gasoline on Saturday was $2.040 a gallon. That compares to $1.933 a month ago and $3.303 a year ago.

Coming back to precious metals numbers, London silver ended Friday at $12.86 an ounce, falling 36 cents since last Friday’s close.

London gold closed to $905.00 an ounce, losing $19.00 for the week.

London platinum climbed to $1,159.00 an ounce, gaining $28.00 on the week.

 

"The metal [gold] has experienced London afternoon fixes under the $900 level only four times since January 30th," wrote Jon Nadler, senior analyst at Kitco Bullion Dealers. "At this juncture, the support that has held up so well during Q1, might well give way and usher in a range of from $850 to $895."

 

Silver, gold and platinum performance charts and tables follow as well as a Reuters weekly business recap video and related precious metal and business article links.

London Fix Charts: Silver, Gold and Platinum
(March 27 – April 3)



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*

(March 27 – April 3)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
 
X
-2.7%
-$0.36
$12.86
Gold
 
X
-2.1%
-$19.00
$905.00
Platinum
X
 
2.5%
$28.00
$1159.00

(Mar. 20-27)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
 
X
-3.2%
-$0.43
$13.22
Gold
 
X
-3.1%
-$30.00
$924.00
Platinum
X
 
1.9%
$21.00
$1131.00

(Mar. 13-20)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
X
 
4.1%
$0.54
$13.65
Gold
X
 
2.8%
$26.00
$954.00
Platinum
X
 
5.9%
$62.00
$1110.00

(Mar. 6-13)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
 
X
-2.6%
-$0.35
$13.11
Gold
 
X
-0.9%
-$8.00
$928.00
Platinum
 
X
-2.1%
-$23.00
$1048.00

(Feb. 27 – Mar. 6)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
X
 
1.9%
$0.25
$13.46
Gold
 
X
-1.7%
-$16.00
$936.00
Platinum
X
 
1.1%
$12.00
$1071.00
*Week change numbers are for Friday PM-Friday PM

Bullion articles of interest

In related news, interesting or quick-read articles:

  • April 3 Gold falls as jobs report not as bad as feared – MarketWatch
    Gold futures fell Friday, extending weekly losses to 3%, after a less-grim-than-feared March jobs report sustained optimism over a global economic recovery, which has curbed demand for safe assets…
  • April 3 The Fallout of the Doleout – Jon Nadler, Kitco
    Gold bullion suffered a second weekly setback with Friday’s 1.5% decline in prices. The metal has experienced London afternoon fixes under the $900 level only four times since January 30th….
  • April 3First Spouse Gold Coin Sales Figures – First Spouse Coins
    The recently released Anna Harrison First Spouse Coins are still receiving a fair amount of attention, with sales increases for the proof and uncirculated up 8.0 percent and 7.5 percent, respectively.
  • April 2 Braille Silver Dollar Sales Near 41,000 – Silver Coins Today
    Silver coin sales climbed over the last several days, helped by the Braille Silver Dollars and the 2009 Quarters Silver Proof Set releases…
  • April 2 Lincoln, Braille & UHR Sales Figures – April 2 – CoinNews
    This week there is a huge surprise in the Lincoln Silver Dollar sales figures. Additionally, we learn how the new Braille commemoratives are performing, say goodbye (again) to Lincoln Birthplace cent rolls and watch sales of the Ultra High Relief (UHR) Gold coins sputter to a near crawl…

Video: Business week and world stocks news – Reuters

Blue chips eked out a gain Friday to complete their biggest four-week rally since 1933 despite a surge in the nation’s unemployment rate.

Friday numbers for the three major US indexes follow:

  • The Dow gained 39.51 points to close at 8,017.59.

  • The S&P 500 rose 8.12 points, closing to 842.50.

  • The NASDAQ climbed 19.24 points to finish at 1,621.87.

And in other world markets:

  • The German DAX rose 3.07 points to close at 4,384.99.

  • The Paris CAC 40 lost 33.32 points to close at 2,958.74.

  • And the London FTSE 100 fell 95.30 points to close at 4,029.67.

Conway Gittens reports from New York.SOUNDBITE: Janis Coppin-Bynoe, unemployed, New York.

Bullion and finance related collector tools

{ 1 comment… read it below or add one }

Coin Collector April 5, 2009 at 2:39 am

Thanks for the references

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