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Week In Review: Gold, silver see good rebounds before dipping [12th to 16th Oct 2020]

gold news week review 12 october 16 oct 2020

Gold and silver gained at mid-week but couldn’t stay the course. Both metals posted their highest prices this week on Monday and could not reach the same levels throughout the week. Brief recoveries during the midweek helped keep the precious metals afloat.


Monday 12th, 2020

Both metals had a solid start, with gold trading at $1,924.26 USD ($2,712.15 AUD) at the close of the day. Silver, on the other hand, was trading at $25.15 USD ($35.45 AUD) – the only time it posted a price above the $25 mark this week.

Tuesday 13th, 2020

The good start was watered down by a sharp price dip on Tuesday. Gold prices fell by 1.62% to $1,893.03 USD ($2,668.15 AUD). A 3.8% drop saw the grey metal’s price move down to $24.20 USD ($34.10 AUD).

Wednesday 14th, 2020

The metals took a recovery path on Wednesday, with gold gaining by 0.42% to move to $1,901 USD ($2679.40 AUD). Silver was unsuccessful in its attempt to climb above the $24.5 level, settling at $24.24 ($34.15 AUD) at the day’s close.

Thursday 15th, 2020

Both metals stayed on the recovery path from Wednesday. Gold’s price jumped to $1,908.01 USD ($2689.2 AUD) – a 0.37% increase. Silver gained additional upside momentum to move up to $24.28 USD ($34.2 AUD).

Friday 16th, 2020

Gold and silver prices crashed as the week came to an end. Gold saw a 0.48% slump dropping to $1.898.86 USD ($2676.35 AUD). Silver plunged to $24.13 USD ($34 AUD) after a 0.6% tumble.

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