Gold & Silver Prices continue their rally | weekly recap – 4-8 April

The week ended as gold and silver prices increased all week especially at its end. Gold price rose to its highest price level in 2011 as it reached on April 8^th, 1,474$/oz. Silver price also rose and passed the 40$ mark and reached by Friday 40.61$/oz.

Part of the reason for this price bump might be related to the recent interest rate hike by 0.25 percent point of the European basic interest rate (see here for more on this subject).

Let’s see the main changes for these precious metals prices for the week ending on April 8^th:

Precious Metals Prices weekly summary:

The following table summarizes the main descriptive data of gold and silver prices:

 

*This figure is calculated based on the percent change from the price at the beginning of the week compare to end of the week

During last week, Gold price rose by 2.87% from beginning to end; this week’s average price of 1,455 USD /t. oz was 2.03% above the previous week’s average price of 1,426 USD /t. oz.

Silver price continued to outperform gold price and increased by 5.49% from beginning to end, and increased by 5.35% from this week’s average price of 39.44/$/t oz., compared to the previous week’s 37.44$/t oz.

During last week, the average daily percent change of gold price inclined by 0.63%; silver inclined by 1.48%.

During April gold prices inclined by nearly 3.2%, while silver prices increased by 7.6%.

In the chart below are the silver and gold prices that were normalized to 100 to the price at the beginning of the week – April, 8^th. It shows the trend of both these precious metals prices.

 

The graph shows that both these precious metals’ prices had a steep upward trend.

In the last chart are the daily percent changes of silver and gold prices during last week (the changes around the trend). It shows that silver prices fluctuated over the week and had steep rises at the beginning and end of the week.

 

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For further reading (in this site):

• Gold & Silver Prices Outlook – 8 April
• Gold prices outlook for April 2011 – what’s next for gold?
• 4 reasons silver outperformed gold in 2011 – 29 March

Previous issues of weekly report:

• Gold & Silver Prices weekly recap – 28 Mar-1 Apr
• Gold & Silver Prices continue their rally –21-25 March
• Gold & Silver Prices started weak and finished strong –14-18 March