For the past few weeks, precious metals have undergone significant, rapid declines. This follows a year of banner performance during 2009. I wanted to take a post to briefly examine the extent of the declines for gold, silver, platinum, and palladium.
Roughly two months ago, gold had reached a new all time high and silver had reached its highest level going back about twenty months. Less than three weeks ago, platinum and palladium had reached their highest levels in about sixteen months.
The figures below show the recent high compared to the recent low and the extent of the decline. All figures are London PM Fix.
Gold
Recent High: $1,212.50 (December 2, 2009)
Recent Low: $1,058.00 (February 5, 2010)
Decline: -$154.50 (-12.74%)
Silver
Recent High: $19.18 (December 2, 2009)
Recent Low: $15.14 (February 8, 2010)
Decline: -$4.04 (-21.06%)
Platinum
Recent High: $1,627.00 (January 20, 2010)
Recent Low: $1,475.00 (February 5, 2010)
Decline: -$152.00 (-9.34%)
Palladium
Recent High: $462.00 (January 21, 2010)
Recent Low: $395.00 (February 5, 2010)
Decline: -$67.00 (-14.50%)
Do you expect that decline to continue? I’m watching gold right now along with silver and it looks like it’s in a struggle to head up.
I am hoping that the recent low will stick and price will start moving up again. Gold stocks rebounded sharply last Friday and have been moving up relatively steadily ever since. I often watch these as leading indicators for the price of the metal.
you should also consider that in Euros gold is at the moment on an ATH.
BTW: nice blog you have. i just started one about gold, but in German.