Post by unlawflcombatnt on Jun 9, 2007 14:55:41 GMT -6
It's easy to miss the long-term trends in metals when focusing on day-to-day changes. Today I started out by trying to show the parallel changes in Gold, Silver, and Platinum prices, and then comparing them to stock price changes. But I never got that far.
In the process of trying to show parallel price changes between the precious metals, it became apparent that precious metal prices had not moved completely in tandem since December 1st of 2006.
Gold, Silver, and Platinum all declined in December. As I would have predicted, Silver declined the most, as it is usually the most volatile. Platinum declined the least, as it's usually the least volatile. Gold's decline was in between the that of Platinum and Silver. .
Silver's decline was a -6.8% in the month of December, from $13.85/oz. on December 1st, down to $12.90/oz. on December 29th. Gold's decline was -4.3%. Platinum's was -3.3% in December.
The parallel course of the 3 has changed considerably since then. All declined in early January 2007, but Gold and Silver's declines were much greater than that of Platinum.
All 3 hit temporary peaks in late February, and then sharply declined. However, the decline was much larger for Silver and Gold, than it was for Platinum. By late March, Platinum had fully recovered from its previous decline and has continued to rise since then. In contrast, Silver has not yet returned to its late February peak, and is still far below its February's $14.50/oz. (As of 6/8/07, silver is $13.31/oz.) Gold eventually returned to its February 2007 peak of $682/oz, but has since dropped back to $655/oz. (As of 6/8/07).
Putting it all together shows a much different picture between the 3 metals, particularly between Platinum and the other 2.
Platinum's price has increased +12.5% since 12/1/06, from $1156/oz. to $1300/oz as of 6/8/07.
Gold's price has increased only +1% since 12/1/2006, from $648.75 to $655/oz. as of 6/8/07.
Silver's price has declined, by -3.8% since 12/1/2006, from $13.85/oz. to $13.31 as of 6/8/07.
Charts of the prices from Kitco.com are shown below.
Gold 2007
Gold 2006
________________________________
Silver 2007
Silver 2006
_______________________________
Platinum 2007
Platinum 2006
It's also worth noting the dramatic increases in Gold, Silver, and Platinum since January 3, 2006.
Gold's price has increased +24%, from $530/oz. to $655/oz.
Silver's price has increased +48%, from $9.04/oz. to $13.35/oz.
Platinum's price increased +24%, from $982/oz. to $13,000/oz.
Also worth noting is that Gold's price has increased over 150% since January 2001's price of only $260/oz.
Again these price charts can all be found at Kitco.com, under the "Historical Charts" for the respective metals.
In the process of trying to show parallel price changes between the precious metals, it became apparent that precious metal prices had not moved completely in tandem since December 1st of 2006.
Gold, Silver, and Platinum all declined in December. As I would have predicted, Silver declined the most, as it is usually the most volatile. Platinum declined the least, as it's usually the least volatile. Gold's decline was in between the that of Platinum and Silver. .
Silver's decline was a -6.8% in the month of December, from $13.85/oz. on December 1st, down to $12.90/oz. on December 29th. Gold's decline was -4.3%. Platinum's was -3.3% in December.
The parallel course of the 3 has changed considerably since then. All declined in early January 2007, but Gold and Silver's declines were much greater than that of Platinum.
All 3 hit temporary peaks in late February, and then sharply declined. However, the decline was much larger for Silver and Gold, than it was for Platinum. By late March, Platinum had fully recovered from its previous decline and has continued to rise since then. In contrast, Silver has not yet returned to its late February peak, and is still far below its February's $14.50/oz. (As of 6/8/07, silver is $13.31/oz.) Gold eventually returned to its February 2007 peak of $682/oz, but has since dropped back to $655/oz. (As of 6/8/07).
Putting it all together shows a much different picture between the 3 metals, particularly between Platinum and the other 2.
Platinum's price has increased +12.5% since 12/1/06, from $1156/oz. to $1300/oz as of 6/8/07.
Gold's price has increased only +1% since 12/1/2006, from $648.75 to $655/oz. as of 6/8/07.
Silver's price has declined, by -3.8% since 12/1/2006, from $13.85/oz. to $13.31 as of 6/8/07.
Charts of the prices from Kitco.com are shown below.
Gold 2007
Gold 2006
________________________________
Silver 2007
Silver 2006
_______________________________
Platinum 2007
Platinum 2006
It's also worth noting the dramatic increases in Gold, Silver, and Platinum since January 3, 2006.
Gold's price has increased +24%, from $530/oz. to $655/oz.
Silver's price has increased +48%, from $9.04/oz. to $13.35/oz.
Platinum's price increased +24%, from $982/oz. to $13,000/oz.
Also worth noting is that Gold's price has increased over 150% since January 2001's price of only $260/oz.
Again these price charts can all be found at Kitco.com, under the "Historical Charts" for the respective metals.