The turmoil in Japan and the war in Libya keep the uncertainty in the commodities markets high; this situation might be one of the reasons for the recent rally of precious metals, especially silver prices (for more on the recent rally of silver and gold prices see here)
During last week, gold prices rose at the beginning of the week and finished with moderate falls; silver prices, rose for most of the week and started off and fell only at the last business day.
Let’s see the main changes for these precious metals prices for the week ending on March 25th:
Precious Metals Prices Analysis:
The following table is summarizes the main descriptive figures of gold and silver prices:
Gold price moderately inclined by 0.08% from beginning to end of the week; this week’s average price was 1,431 USD /t. oz – a 2.07% above last week’s average weekly price of 1,402 USD /t. oz.
Silver price has inclined by 2.91% from beginning to end of the week, and increased by 6.5% from this week’s average price of 36.78/$/t oz., compare to 34.53$/t oz. in the previous week.
On average, gold price inclined by 0.16% on a daily basis, while silver inclined by 1.12%.
During March gold prices fell by nearly 0.3%, while silver prices increased by 7.6%.
The prices of silver and gold chart below are normalized to 100 to the price at the beginning of the week – March, 21st.
The graph shows how both these precious metals started off with rises and ended the week with falls.
In the last chart are the daily percent changes of silver and gold prices during last week.
For further reading (in this site):
- Gold & Silver Prices Outlook –25 March
- Gold prices bounce back in February – what will be next?
- Gold Prices Outlook for 2011 and Analysis of 2010
Previous issues of weekly report:
- Gold & Silver Prices started weak and finished strong –14-18 March
- Gold & Silver Prices zigzagged all week – weekly recap 7-11 March
- Gold & Silver Prices keeps on rising – weekly recap 28/2-4/3