Metals Minute: Precious Metals Market Update

metals-minute-december-2

Metals Minute: Precious Metals Market Update

December 2, 2020

It has been a volatile ride this past week for the metals, with all moving markedly higher. As mentioned last week, Gold and Silver have been under pressure with option expiry issues, and dealing with seasonal downturns typical in an election year. But it appears the bottoming pattern began and ended early, with many of last week’s losses already recovered. This week Gold had the biggest daily jump in almost a month.


For the week, Gold is up 1%, Silver is up 3%, Platinum has continued it’s run and is up 4%, and Palladium is up 3%.

For the 1 year time frame, Gold is up 25%, Silver is up 43%, with Palladium up 31%. 3 weeks ago we mentioned the relative value in Platinum. Platinum has rallied since then, transforming it’s 1 year performance from a negative number into a positive 12%.

There are still more fireworks to come, with stimulus talks back on again. Both Presidential nominees have indicated that more will be coming in the new year, regardless of the final election outcome. The Dollar index has also been moving lower, which continues to help the metals going forward. Looks like another good week ahead.

Did you like this post?
0
0