Live Metal Prices / oz
Gold:
2220.35 USD
Silver:
24.87 USD
Platinum:
907.28 USD
Palladium:
1014.23 USD
Rhodium:
5150.00 USD

Market Summary, April 2, 2022

02 Apr 2022 - Gold News Home Page

Platinum’s value decreased -1.50% this week as it dances with the $1,000 support level. The metal has been seen going above and below the $1,000 level as it fails to find proper upward momentum. Since Monday, the metal’s price has decreased from $1,003/oz to $988/oz at the time of writing. This week, the industrial metal experienced a high of $1,007/oz and a weekly low of $958/oz, the lowest price in over 11 weeks. On a 3 month basis, the metal is up just 1.85% and down -16.84% from its peak earlier this month.

Platinum Price (6 months)

Source: GoldSilverPrice.eu

Palladium prices are down -3.66% this week as the Russian exported metal sees its prices drop from $2,374/oz at Monday’s market open to $2,287/oz at the time of writing. In the last 5 days, palladium reached a high of $2,392/oz shortly after market open on Monday. The weekly low was $2,038/oz, the lowest price seen in nearly 10 weeks. In the last 3 months, palladium’s value has increased by 20.62% but decreased -31.47% from $3,337/oz earlier this month.

Palladium Price (6 months)

Source: GoldSilverPrice.eu

Gold’s value is down -1.28% this week as its price drops from Monday’s market opening price of $1,955/oz to $1,930/oz at the time of writing. This week, the yellow bullion started its week on its high and reached a weekly low of $1,889/oz, the lowest price seen in 5 weeks. On a 3 month basis, gold’s value is up 5.52% and down -6.99% from its all time high earlier this month.

The silver price too experienced a negative week by reporting a -2.75% loss in its value as its price dropped from Monday’s market opening price of $25.63/oz to today’s price of $24.92/oz. This week, silver also started off at its weekly high and spiraled downward to its weekly low of $24.09/oz, the lowest price in 5 weeks. In the last 3 months, the metal is up 7.14% but down -9.10% from its peak earlier this month.

The rhodium price increased just 0.53% with its price increasing from $18,800/oz on Monday to $18,900/oz. In the last 3 months, rhodium’s value has increased 61.54% although it is down -14.86% since its highs earlier this month.

Prices for commodities have been dropping relatively quickly since their peak at the start of the Russian Ukraine war. Russian commodities especially, have lost massive amounts of value in the last few weeks as media coverage of the war dies down and peace talks take place. Russia has vowed to scale back attacks on Ukraine as peace talks between the two countries are ongoing and improving. These peace talks decrease the chance of complete isolation of Russian exports and hence the stress on the supply chain of these Russian exports is alleviated. With supply becoming more and more certain as peace talks progress, it is normal for us to see the values of these exports dropping.

There is still some distance to go for peace between both countries and investors should be weary of the extreme volatility the commodity market is currently experiencing.

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