Gold Snaps Losing Streak, Silver Tops $20

by CoinNews.net on April 2, 2014 · 2 comments

250 g Fine Gold Bar

Gold prices climbed Wednesday to snap a five-session losing streak and pull back from a seven-week low. Silver also closed higher on the day, ending above $20 an ounce for the first time since March 24.

Gold for June delivery settled up $10.80, or 0.8%, to $1,290.80 an ounce on the Comex division of the New York Mercantile Exchange.

"Short-term, the gold charts look negative, but we should note that prices are now approaching over-sold territory. We see prices trading between $1,250-$1,330 over the course of April," Reuters quoted INTL FCStone analyst Ed Meir.

Gold traded from an intraday low of $1,278.90 to a high of $1,294.90.

Silver for May delivery gained 36 cents, or 1.8%, to $20.05 an ounce, trading between $19.73 and $20.15.

Platinum and palladium added to prior-day gains with both metals about 2% higher than their Friday closings. In the daily breakdowns:

  • July platinum rose $9.10, or 0.6%, to $1,438.70 an ounce, ranging from $1,425.50 and $1,439.

  • Palladium for June delivery tacked on $5.85, or 0.8%, to $787.80 an ounce, trading between $777.45 and $791.

London Fix Precious Metals

Earlier fixed London precious metals moved higher as well. In contrasting the London fix prices from Tuesday PM to Wednesday PM:

  • Gold gained $8.25, or 0.6%, to $1,292 an ounce,
  • Silver edged up 2 cents, or 0.1%, to $19.82 an ounce,
  • Platinum rose $5, or 0.3%, to $1,434 an ounce, and
  • Palladium added $9, or 1.2%, to $787.50 an ounce

US Mint Bullion Coin Sales in March

Sales of U.S. Mint bullion coins were unchanged Wednesday but levels did increase later in the day on Tuesday. Those gains may be seen in the "April Sales" column below.

American Eagle and Buffalo Bullion Sales (# of coins)
Wednesday Sales Sales Last Week Sales This Week March Sales April Sales YTD Sales
$100 American Platinum Eagle Bullion Coins 0 500 700 10,000 200 10,200
$50 American Gold Eagle Bullion Coins 0 3,000 5,500 16,000 4,500 105,00
$25 American Gold Eagle Bullion Coins 0 0 0 2,000 0 17,000
$10 American Gold Eagle Bullion Coins 0 0 0 4,000 0 42,000
$5 American Gold Eagle Bullion Coins 0 5,000 10,000 30,000 10,000 250,000
$50 American Buffalo Gold Bullion Coins 0 2,000 3,500 12,000 3,500 69,000
$1 American Silver Eagle Bullion Coins 0 1,192,500 1,171,000 5,354,000 293,000 14,172,000
Great Smoky Mountains National Park 5 Oz Bullion Coins 0 1,700 2,800 12,400 2,600 15,000

 

{ 2 comments… read them below or add one }

Boz April 2, 2014 at 4:38 pm

I got a long way to go before my $50 silver eagles from the mint will ever recoup what I paid. Pawn shops offer $20 for them minus a 10 percent handling fee.
What ever happened to the prediction of $700 silver?

Ilovesilver April 2, 2014 at 4:59 pm

what I doing is : Buy Silver @ US Mint, , short sell SLV @Stock market, always make profit this way 🙂

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