Metals Minute 34: Market Update

We have an incredible buying opportunity before us, just as a historically rewarding time begins for gold and silver. Over the last week, spot gold is down 2% to $1,769, silver is down 1% to $26.00, platinum is down 3% to $1,074, and palladium is up 3% to $2,733.

We have gold flat for the 1-year time frame, silver up 45%, platinum up 31%, and palladium up 43%.

We see some opportunity for platinum at these levels, which allows us to pick up this metal while it is below the gold price. Much of its life, you may recall, was spent above the price of gold. 

Speaking of gold, don’t let the spot price fool you. There continues to be a widespread between the spot price and physical metal price. The same is valid for silver. And we are entering a time of year that has historically been good for both metals, as mentioned in this week’s article coming out soon.

 Traditionally from July 1 to year-end, gold has averaged 6.5%, and silver has averaged 9% - based on the last 20 years of history. I believe we will exceed these averages by a comfortable margin this year.