Bullion & Business Weekend Report – April 18

by CoinNews.net on April 18, 2009 · 0 comments

For the fourth straight week, gold and silver fell while platinum rose. London gold lost 1.1 percent, silver dropped 2.6 percent, and platinum added 1.7 percent. Oil futures picked up Friday to end above $50 a barrel, but declined 3.7 percent this week. U.S. stocks rallied for the sixth consecutive week to match a streak set back in May 2007.

Weekend Recap: Silver, Gold and Platinum Prices; Business Week NewsIn spot precious metals, week-ending figures follow:

London silver ended Friday at $11.98 an ounce, falling 32 cents this week.

London gold was fixed at $870.50 an ounce, declining $10.00 for the week.

London platinum climbed to $1,215.00 an ounce, rising $20.00 on the week.

 

"The global rally in equities has bitten into the enthusiasm with which takers were willing to…take during the crisis-infused gloomdays of January and February," wrote Jon Nadler, senior analyst at Kitco Bullion Dealers. "Gold was earlier seen reaching lows near $863 per ounce, as it still appears to remain on course for a visit to the $845 area."

"Further strength in equity markets would signal an increasing risk appetite, which would be detrimental to precious metals" Toby Hassall, an analyst at Commodity Warrants Australia Pty, was quoted on Bloomberg. "Over the longer term however, unprecedented fiscal and monetary stimuli have increased inflationary expectations, which will be constructive to gold prices."

 

To follow are silver, gold and platinum performance charts and tables, precious metal article links, oil news and world stock summaries and performances for the week.

London Fix Charts: Silver, Gold and Platinum
(April 9 – April 17)



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*

(April 9 – April 17)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
 
X
-2.6%
-$0.32
$11.98
Gold
 
X
-1.1%
-$10.00
$870.50
Platinum
X
 
1.7%
$20.00
$1215.00

(April 3 – April 9)

 
Up
Down
Week % Change
Week $ Change
Thursday Close
Silver
 
X
-4.4%
-$0.56
$12.30
Gold
 
X
-2.7%
-$24.50
$880.50
Platinum
X
 
3.1%
$36.00
$1195.00

(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
*Week change numbers are for Friday PM-Friday PM

Bullion articles of interest

In related news, interesting or quick-read articles:

  • April 17 Gold falls on Citi results, better consumer sentiment – MarketWatch
    Gold futures moved lower Friday, marking their fourth straight weekly loss, as Citigroup’s financial results and improved consumer sentiment reinforced hopes that the economic crisis may have bottomed, making gold less attractive to investors…
  • April 17 The Ministry of Silly Talks vs. I’m Yellen “Bubble!” – Jon Nadler, Kitco
    Gold prices underwent a fourth weekly decline, making this their longest losing streak since August of 2008. The global rally in equities has bitten into the enthusiasm with which takers were willing to…
  • April 16First Spouse Gold Coin Sales Figures – First Spouse Coins
    It was an ungentle week for First Spouse Gold Coin sales, to say the least. With the exception of Anna Harrison spouse coins, all other figures fell. The US Mint does not include reasons for coin movements, up or down, in their weekly sales reports….
  • April 16 US Silver Coin Sales Stats – Silver Coins Today
    For the second consecutive week, the latest United States Mint sales stats show a general decline in collector activity for US silver coins and sets. Recent fluctuating silver prices could have been a deterrent, as collectors may be more willing to standby and first see where it all settles…
  • April 16 Lincoln, Braille & UHR Sales Figures – CoinNews
    Lincoln Silver Dollars and Lincoln Birthplace cent rolls look to have settled into their final figures, according to the latest sales report from the United States Mint. The numbers have remained constant for two consecutive weeks…

Reporting on world business, oil prices and stocks

In black gold, crude-oil prices ended higher Friday by 35 cents, or 0.7 percent, to finish at $50.33 a barrel. Oil closed last Friday at $52.24 for a weekly difference of $1.91, or 3.7 percent.

For consumers, gas price at the pump moved slightly up this week. AAA said the average price Saturday for unleaded gasoline was $2.055 a gallon, which is three-tenths of a cent more than a week ago.

In U.S. stocks, the Dow Jones industrial average marked a weekly gain of 0.6 percent, the S&P 500 rose by 1.5 percent, and the Nasdaq Composite added 1.2 percent. European stocks ended higher for the week as well.

Friday numbers for the three major US indexes follow:

  • The Dow gained 5.90 points to close at 8,131.33.

  • The S&P 500 rose 4.29 points, closing to 869.59.

  • The NASDAQ climbed 2.63 points to finish at 1,673.07.

And in other world markets:

  • The German DAX jumped 67.38 points to close at 4,676.84.

  • The Paris CAC 40 gained 53.78 points to close at 3,091.96.

  • And the London FTSE 100 rose 39.82 points to close at 4,092.80.

U.S. consumer sentiment jumped to a six-month high in early-April, according to the latest Reuters-University of Michigan survey. Conway Gittens reports on that and stocks in the weekly Reuters business recap.

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