Current Live World Spot Prices
Last update: Wed 2nd December 2020 19:08 (Melbourne)
Gold: $2,473.26 AUD     $1,825.22 USD Silver: $32.76 AUD     $24.17 USD

Week In Review: Gold and silver post solid price gains [5th Oct – 9th Oct]

gold price news week review

The precious metals market was an active one this week. After a fairly good start and dip during the week, both metals picked momentum towards the end.  The metals traded at higher prices on Friday than they had on any other day.

It was a week where the US vice-presidential candidates had a debate and the US President confirmed testing positive for COVID-19 which disrupted most markets.

Summary

Monday 5th, 2020

Gold was trading at $1,912.61 USD ($2,647.39 AUD) at the close of the day. Silver started above the $24 level trading at $24.38 USD ($33.75 AUD).

Tuesday 6th, 2020

The metals market plummeted on Tuesday. Gold fell by 1.9% to $1,875.72 USD ($2,596.33 AUD) – its lowest price during the week. Silver, on a similar path as well, recorded a 4.2% drop to $23.18 USD ($32.09 AUD).

Wednesday 7th, 2020

Gold posted a 0.62% price increase to move up to $1,887.43 USD ($2,612.54 AUD). Silver prices also went up by 2.72% but couldn’t manage to get to the $24 level instead settling at $23.81 USD ($32.96 AUD).

Thursday 8th, 2020

The upside momentum saw Gold gain an additional 0.41% to climb to $1,895.12 USD ($2,623.19 AUD) whereas silver traded at $23.87 USD ($33.04 AUD) – gaining by $0.06.

Friday 9th, 2020

Both metals saw their biggest jump on Friday. Gold price soared to $1,929.64 USD ($2,670.97 AUD) after posting a 1.82% increase. Silver shot up by 6.45% to $25.41 USD ($35.17 AUD) – its highest price of the week

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