Live Metal Prices / oz
Gold: 1805.70 USD
Silver: 21.13 USD
Platinum: 922.00 USD
Palladium: 1904.00 USD
Rhodium: 16199.99 USD

Read Our Current Update on the Ukraine-Russian Conflict and its Affect on the Precious Metals Market

Weekly Market Summary, April 26-30

Gold sees its price drop substantially this week as it reports a -3.33% loss with its value dropping from last Wednesday’s market open price of $1,950/oz to $1,885/oz at the time of writing. In the last 7 days, the yellow bullion experienced a high of $1,960/oz. The weekly low was $1,882/oz, the lowest price in nearly 10 weeks. On a 3 month basis, the precious metal is up just 3.69% and down -9.24% since its peak early March.

Gold Price (6 months)

Source: GoldSilverPrice.eu

Silver’s value also experienced a substantial dip this week as the metal sees its value decrease -7.13% with its price dropping from last Wednesday’s market open price of $25.23/oz to today’s price of $23.43/oz. This week, the white metal saw its value reach a high of $25.38/oz and the weekly low was $23.33/oz, the lowest price in nearly 10 weeks. In the last 3 months, silver’s value is down -0.55% and down a further -14.58% since its peak early March.

Silver Price (6 months)

Source: GoldSilverPrice.eu

Platinum stayed below the $1,000 level this week as it sees its price drop from last Wednesday’s market open price of $985/oz to $909/oz at the time of writing, amounting to a -7.72% loss in value. In the last 7 days, platinum saw its price reach a high of $991/oz and a weekly low of $896/oz, the lowest price in over 4 months. On a 3 month basis, the industrial metal is down -12.17% and a further -23.61% since its peak early March.

Palladium’s value dropped by -7.25% this week as it sees its price decrease from last Wednesday’s market open price of $2,372/oz to $2,200/oz at the time of writing. This week, palladium experienced a high of $2,481/oz. The weekly low was $2,065/oz, the lowest price seen in nearly 14 weeks. In the last 3 months, palladium’s value is down -5.00% but down -34.07% since its peak early March.

Rhodium’s value is down this week as it reports a -2.40% loss with its price decreasing from last Wednesday’s market open price of $18,750/oz to today’s price of $18,300/oz. On a 3 month basis, rhodium’s price has increased 8.93% and down -17.57% since its peak early March.

Rising bond yields have been a major factor in pushing precious metals prices down this week. The US 10 year treasury yield is currently at 2.803% up dramatically from 1.512% from the beginning of 2022. Uncertainty in markets has caused investors to pull cash out from commodities and stock markets and into the more secure bond market.

Another factor acting as an obstacle for precious metals over the last few weeks has been a rising US dollar. For the first time since the start of the pandemic, the US Dollar index (DXY) has surpassed the 100 level as it currently stands at 102.94. In the last 3 months alone, the DXY has risen from 95.38 to 102.94. Gold, being a dollar-denominated commodity, has suffered by consequence.