Gold Ends Near 4-Month Low as US Dollar Rallies

by CoinNews.net on March 10, 2015 · 2 comments

Gold bullion bars and US Money

Gold declined Tuesday as the greenback surged

Gold dropped to an almost four-month low Tuesday as the U.S. dollar rallied to its highest level since 2003. The loss marks a sixth in seven sessions.

Gold for April delivery declined $6.40, or 0.5%, to close at $1,160.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement price is the lowest since gold finished at $1,159.10 an ounce on Nov. 12.

"Sentiment has been lousy for gold," MarketWatch quoted Brien Lundin, editor of Gold Newsletter. But "from a contrarian point of view, [that] probably makes gold and gold stocks an outstanding opportunity."

Gold traded from a low of $1,153.80 to a high of $1,169.60. Prices have slipped 2% on the year.

Silver for May delivery fell 14 cents, or 0.9%, to settle at $15.63 an ounce. Prices ranged from $15.58 to 15.83. Silver has ended flat or lower for eight straight sessions.

In PGM futures on Tuesday:

  • April platinum declined $18.60, or 1.6%, to $1,130 an ounce, trading between $1,129 and $1,151.60.

  • Palladium tumbled $18.85, or 2.3%, to $804.10 an ounce, ranging from $801 to $824.75.

London Fix Precious Metals

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

  • Gold shed $6.50, or 0.6%, to $1,162 an ounce,
  • Silver declined 14 cents, or 0.9%, to $15.78 an ounce,
  • Platinum fell $13, or 1.1%, to $1,139 an ounce, and
  • Palladium dropped $15, or 1.8%, to $808 an ounce.

US Mint Bullion Coin Sales in March

United States Mint bullion sales were unchanged Tuesday as of 2:50 PM ET. Below are U.S. Mint bullion products with columns listing the number of bullion coins sold during varying time periods.

US Mint Bullion Sales (# of coins)
Tuesday Sales Last Week Current Week February Sales March Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 0 2,500 6,000 12,500 8,500 72,500
$25 American Eagle 1/2 Oz Gold Coins 0 3,000 0 2,000 3,000 23,000
$10 American Eagle 1/4 Oz Gold Coins 0 2,000 0 0 2,000 38,000
$5 American Eagle 1/10 Oz Gold Coins 0 20,000 0 50,000 20,000 185,000
$50 American Buffalo 1 Oz Gold Coins 0 1,500 1,500 12,000 3,000 49,500
$1 American Eagle 1 Oz Silver Coins 0 587,000 482,500 3,022,000 1,069,500 9,621,500
2015 Homestead 5 Oz Silver Coins 0 0 7,200 20,000 7,200 27,200

{ 2 comments… read them below or add one }

Ilovesilver March 10, 2015 at 5:48 pm

I got burn on Silver eagle and Atb 5 oz silver, what should I do,
I lost more than 50%+ on investing value, since 2010 ATB 1st issue

vadim March 11, 2015 at 2:40 pm

Ilovesilver,

Think long term at this point.

Those early collectors edition 5oz ATBs I would love to get, but are very expensive.

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