Platinum and palladium prices closed Friday on a high, after a down week overall, with ETFS Physical Platinum Shares (NYSE:PPLT), ETFS Physical Palladium Shares (NYSE:PALL), iPath Dow Jones-AIG Platinum ETN (NYSE:PGM), UBS E-TRACS Long Platinum TR ETN (NYSE:PTM) and UBS E-TRACS Short Platinum ER ETN (NYSE:PTD) all closing up on Friday, with the exeption of UBS E-TRACS Short Platinum ER ETN, which closed level with Thursday's close.
Palladium futures for June delivery climbed $5.50, or 0.8 percent, to $716.30 an ounce on the New York Mercantile Exchange. This week, the metal dropped 9.6 percent, the most since July.
Platinum futures for July delivery rose $8.20, or 0.5 percent, to $1,786.40 an ounce. This week, the price dropped 4.2 percent, the most since November.
ETFS Physical Platinum Shares (NYSE:PPLT) closed Friday at $176.66, gaining $2.26, or 1.30 percent.
Showing posts with label Palladium. Show all posts
Showing posts with label Palladium. Show all posts
Monday, May 9, 2011
Thursday, April 14, 2011
Hecla (HL) (SSRI) (FVITF) (EXK) Close Up as Silver Prices Rise
Even though Gold and silver prices were up only slightly Wednesday, silver companies like Silver Standard Resources (SSRI), Hecla Mining (NYSE:HL), Fortuna (OTC:FVITF.PK) and Endeavour Silver (AMEX:EXK) were able to finish with a gain, even as most base metals fell in price.
On Wednesday gold prices closed at $1455.60 an ounce. The Silver price for the May contract was higher by .43 percent at 40.24 an ounce.
The collapsing U.S. dollar continues to be a big factor with gold and silver prices, although it gained in strength near the end of trading Wednesday. Other elements are tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, deepening food and fuel inflation and the consequences of the Japanese earthquake in the auto and tech sectors, among others.
July platinum added $2.90 to $1,777.20 a troy ounce, but June palladium fell $4.80 to $765.30 a troy ounce.
Among base metals, May copper was down 9 cents to $4.30 a pound in New York trade, while three-month contracts were $115 lower to $9,515 a ton on the London Metal Exchange after stockpiles in LME-monitored warehouses added another 3,225 tons throughout the day.
Tin was also down in London trade, falling $300 to $32,250 a ton, while nickel dropped $450 to $26,250 a ton.
Silver Standard Resources closed Wednesday at $33.72, gaining $0.30, or 0.90 percent. Hecla Mining closed at $9.19, up $0.21, or 2.34 percent. Fortuna closed at $6.15, rising $0.18, or 3.02 percent. Endeavour Silver ended the session at $11.17, jumping $0.27, or 2.48 percent.
On Wednesday gold prices closed at $1455.60 an ounce. The Silver price for the May contract was higher by .43 percent at 40.24 an ounce.
The collapsing U.S. dollar continues to be a big factor with gold and silver prices, although it gained in strength near the end of trading Wednesday. Other elements are tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, deepening food and fuel inflation and the consequences of the Japanese earthquake in the auto and tech sectors, among others.
July platinum added $2.90 to $1,777.20 a troy ounce, but June palladium fell $4.80 to $765.30 a troy ounce.
Among base metals, May copper was down 9 cents to $4.30 a pound in New York trade, while three-month contracts were $115 lower to $9,515 a ton on the London Metal Exchange after stockpiles in LME-monitored warehouses added another 3,225 tons throughout the day.
Tin was also down in London trade, falling $300 to $32,250 a ton, while nickel dropped $450 to $26,250 a ton.
Silver Standard Resources closed Wednesday at $33.72, gaining $0.30, or 0.90 percent. Hecla Mining closed at $9.19, up $0.21, or 2.34 percent. Fortuna closed at $6.15, rising $0.18, or 3.02 percent. Endeavour Silver ended the session at $11.17, jumping $0.27, or 2.48 percent.
Wednesday, December 8, 2010
Societe Generale Says Palladium Prices Overbought, Buy on Dip
The rise in palladium prices will undergo a correction says Societe Generale, and are overbought at this time. When the correction comes, they recommend buying the dip.
So far in 2010 palladium has soared by 89 percent, generating the idea of the probability of a correction sometime soon.
This is being viewed in the short term, and with supply not able to keep up with growing demand, it will be temporary. Any time a weakness in the metal comes about, investors are encouraged to buy at that time.
ETFS Physical Palladium Shares (NYSE:PALL) closed Tuesday at $72.79, down $2.82, or 3.73 percent.
So far in 2010 palladium has soared by 89 percent, generating the idea of the probability of a correction sometime soon.
This is being viewed in the short term, and with supply not able to keep up with growing demand, it will be temporary. Any time a weakness in the metal comes about, investors are encouraged to buy at that time.
ETFS Physical Palladium Shares (NYSE:PALL) closed Tuesday at $72.79, down $2.82, or 3.73 percent.
Subscribe to:
Posts (Atom)