Today, we come to you with another portion of information about how prices of precious metals you were interested in last week. As recently, the analysis appeared in the new, dedicated „Weekly analysis of metal prices” tab.
We will deal in particular with those found in car catalysts – platinum, palladium and rhodium.
January undoubtedly started very favorably for most metals. As we wrote in the previous article, the price of platinum from 3.01 to 4.01 jumped up very much. Almost 24-dollar growth was recorded at that time, which does not happen often.
After such an unexpected change in the situation, there was a short period of relative stability, which lasted until Monday. Interestingly, the price after the weekend usually changes significantly. In this case, however, we did not notice a change in the value of platinum. It was not until Tuesday that the price of an ounce dropped by just under $ 4, after which it rose on Wednesday to USD 829.20 / ounce, thus making up for the loss from the previous day. The next two days were a strong drop that platinum fell to the price of USD 813 / ounce. It’s still about $ 18 more than the average value of an ounce of platinum in December.
At the crucial moment, there was palladium, which practically grew stronger for the entire week. Only at the beginning of the analyzed period could we observe two days of stagnation when the price chart of this noble element was practically in a horizontal line. Already from Monday to Tuesday, there was a significant increase – USD 25.55 / ounce. However, this is not the end of good information. The price in the following days also increased. The increase was, however, milder, although it led to a Friday’s exchange rate of up to 1 294.20 USD / ounce! This price has never been recorded before! Is such a boost after the Dieselgate affair and the reduction in demand for diesel cars in favor of gasoline cars in which palladium is the main metal contained in the catalysts?
We are excited and look forward to the development of the situation.
The value of the family remained stable for the vast majority of the week. From 4.01 to 9.01 an ounce was worth 2,300 USD. Only from 9.01 / 10.01 a decrease was observed, which amounted to 20 dollars. The price of 2 280 USD / oz is maintained until now.
The gold chart shows us how much turbulence we had during the last week. Still on Friday, an ounce of this element was $ 1,286. After a weekend increase of less than $ 4 / ounce, it’s time for a 4-dollar drop the next day. The maximum price, gold reached in the last period on Wednesday, when the rate was $ 1,300. This is undoubtedly the best result since June 2018. For a long time, however, we did not enjoy this jump. The Thursday’s fall equalized the price of an ounce and left it with a value a tad higher than the one we dealt with on Tuesday. Friday with a slight increase. The week was closed with the amount of 1 287 USD / ounce.
The period in question also brought considerable fluctuations in silver prices. The value of the ounce first dropped, then it stabilized for one day, to increase again, to note a significant decline and to jump up again. But what came out of these turbulences?
The maximum value of an ounce of silver was 15.93 USD, and the minimum value was 15.57 USD. Weekly change, however, brought – 1.01%. It is worth noting, however, that the average weekly rate is higher by 1 USD / ounce than the average of the last 3 months.
Current exchange rates and precious metal rates, you will always find here.