Live Spot Gold
SPOT MARKET IS OPEN
closes in 4 hrs. 43 mins.Jan 17, 2020 12:17 NY Time
| Bid/Ask | 1558.40 / 1559.40 | |
| Low/High | 1553.40 / 1561.30 | |
| Change | +6.50 | +0.42% |
| 30daychg | +83.50 | +5.66% |
| 1yearchg | +267.10 | +20.68% |
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Silver Price & PGMs
Jan 17, 2020 12:17 NY TimeKitco 10AM Silver Fix
| Silver | 18.01 | +0.11 |
| Platinum | 1018.00 | +14.00 |
| Palladium | 2356.00 | +123.00 |
| Rhodium | 7700.00 | 0.00 |
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(Kitco, Fri. Jan.17th, 2020) –Palladium has posted the highest price per ounce ever of the four main precious metals, with analysts citing a tightening market with strong demand for use in catalytic converters.
Kitco News
Commerzbank analyst Daniel Briesemann pointed out that the metal was up nearly 6% for a while Thursday, surging to a new record high of just shy of $2,400 per troy ounce. According to one price vendor, palladium peaked at $2,373 Thursday and $2,376.80 early Friday.
And, some say, there could be still more upside since the rally appears to be driven by supply-demand fundamentals rather than excessive speculation in the futures market.
“As such, it also exceeded the all-time high that platinum had achieved in March 2008,” Briesemann said. “Palladium is now more expensive than platinum ever was, in other words. It had already surpassed gold’s record high back in mid-December. This latest rise makes palladium the most valuable of the four exchange-traded precious metals.”
Spot gold’s record high was $1,920.20 an ounce in September 2011, while platinum’s all-time high was $2,275 back in March 2008. However, rhodium, a lightly traded platinum group metal, has been higher, currently trading around $7,700 an ounce.
Posted by :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com