Gold, Silver and Platinum Snap 3-Session Losing Streak

by CoinNews.net on February 25, 2015 · 1 comment

100g fine gold 999.9 bar

Precious metals advanced in the mid-week trading session Wednesday

Precious metals advanced Wednesday — gold, silver and platinum for the first time in four sessions. Palladium extended its gains to three days in a row.

Gold for April delivery turned up $4.20, or 0.4%, to settle at $1,201.50 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices moved between $1,200.70 and $1,211.70.

"Today’s rally is a relief that we’re not in imminent danger for a rate increase, according to [Federal Reserve chair] Yellen," Bloomberg News quoted George Gero, a precious-metals strategist at RBC Capital Markets in New York.

Silver for March delivery tacked on 24 cents, or 1.5%, to $16.43 an ounce, trading between $16.28 and $16.70.

In PGM futures on Wednesday:

  • April platinum added $6.20, or 0.5%, to $1,168.50 an ounce, ranging from $1,164 to $1,177.20.

  • Palladium for March delivery jumped $18.05, or 2.3%, to $808.05 an ounce, trading between $790.85 and $808.30.

London Fix Precious Metals

Earlier fixed London precious metals advanced as well. In comparing London bullion Fix prices from Tuesday PM to Wednesday PM:

  • Gold rose $12.25, or 1%, to $1,204.75 an ounce,
  • Silver gained 19 cents, or 1.2%, to $16.51 an ounce,
  • Platinum added $6, or 0.5%, to $1,166 an ounce, and
  • Palladium rose $15, or 1.9%, to $803 an ounce.

US Mint Bullion Coin Sales in February

United States Mint bullion sales were unchanged. Below are U.S. Mint bullion products with columns listing the number of bullion coins sold during varying time periods.

American Eagle and Buffalo Bullion Sales (# of coins)
Wednesday Sales Last Week Current Week January Sales February Sales YTD Sales
$50 American Eagle Bullion Gold Coins 0 4,500 3,500 51,500 12,500 64,000
$25 American Eagle Bullion Gold Coins 0 0 0 18,000 2,000 20,000
$10 American Eagle Bullion Gold Coins 0 0 0 36,000 0 36,000
$5 American Eagle Bullion Gold Coins 0 5,000 10,000 115,000 50,000 165,000
$50 American Buffalo Bullion Gold Coins 0 3,000 3,000 34,500 12,000 46,500
$1 American Eagle Silver Bullion Coins 0 720,000 718,500 5,530,000 2,963,000 8,493,000
2015 Homestead 5 Oz Silver Bullion Coins 0 14,500 5,000 N/A 19,500 19,500

 

{ 1 comment… read it below or add one }

john kruger February 26, 2015 at 8:47 am

Question..Rec’d Kennedy rolls (item KN8) with BAD scratches on face of only coin I could see. I’m fairly new to collecting so I’m unaware of how common a problem this is with the mint. should I return them or just take a loss ? Thanks

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