Precious Metals Weekly Review

Precious Metals

In the world of precious metals, this week was a good one. The price of gold spent the first half of the week quite steady, grew incrementally and experienced a slight dip on Wednesday before sharply increasing and finishing the week off strong.

It started the week off at $1,317.30 and finished it at $1,360.20, a positive increase of 2.50%.

Silver started the week fairly strong and began to grow day by day, reaching a high point of $16.96 this morning.

The news was even better for palladium, which started off with a series of small dips that led to incremental growth which sped up towards the end of the week. It grew from $988.80 all the way up to $1,025.70 just between Wednesday evening and Friday morning.

As for platinum, it dipped early in the week but was able to recover and then experienced mild spikes up and down through Thursday, before experiencing a surge of sharp growth to finish off the week strong at $1,012.40.

Bitcoin

Bitcoin also had a newsworthy week. Starting it off with many ready-to-call times of death for the leading form of cryptocurrency. Ending it with significant growth and fueling the hopes of its investors and fans.

February 9th saw its value at $8221.22 and by this morning it had reached $10,118.11.

Following a period where it lost two-thirds of its value, this new growth and reach above the psychological barrier of $10,000 has excited many and led to new investors beginning to enter the market.

Strong growth out of the European and Asian stock markets this week, which performed well following last week’s frightening falls. Although a majority of the larger indexes out of Asia are closed for the Lunar New Year, stocks increased again today, making that its fifth session of growth in a row.

Stock Markets

The U.S. stock market closed out the week with five days of gains, causing many analysts to think that the low has been put in and we may be due for a more steady market over the course of the next few weeks. This stability, however, will in large part be reliant on the rate increases and their timings, as announced by the Fed.

The gains reached this week are not insignificant, as the S&P 500 closed yesterday only 4.9% away from its record peak. While the U.S. dollar was showing some promise of growth last week, it spent this week in decline and by Friday reached its lowest point in four years, down to $88.31.

Your Week in Review: February 12 - February 16 Every week, Bullion Exchanges brings you the latest and most significant of the news that’s most relevant to you. Stay tuned to our blog for updates on precious metals, newest releases in bullion, the most relevant information in politics, and what’s going on at the moment in the world of cryptocurrencies.

Bullion Exchanges is located at 30 West 47th Street in New York City’s Diamond District and is open Monday through Friday 9 A.M. to 5 P.M. or online anytime at BullionExchanges.com.  All market review articles are provided as a third-party analysis and do not represent the views of Bullion Exchanges. Please do not consider this article as financial advice in any way.