Gold Ends at 4-Week High; Extends Streak to 7 Sessions

by CoinNews.net on March 26, 2015 · 0 comments

6 gold bars

Gold priced settled at a four-week high

Precious metals advanced on Thursday, buoyed by safe-haven demand. Gold extended its winning streak to seven sessions, silver to six and platinum and palladium to two.

Gold for April delivery tacked on $7.80, or 0.7%, to $1,204.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement price is the highest since Feb. 27 when gold ended at $1,213.10 an ounce.

"Between geopolitical fears and an exhausted U.S. dollar, gold is catching a nice little panic room bid as traders fled to safety yesterday, overnight, and into today," MarketWatch quoted Adam Koos, president of Libertas Wealth Management Group.

Gold prices ranged from a low of $1,193.80 to a high of $1,219.50. They have advanced $56.60, or 4.9%, since last ending down on March 17.

Silver for May delivery gained 14 cents, or 0.8%, to close at $17.14 an ounce. Silver prices traded from $16.91 to $17.41. They have surged $1.60, or 10.3%, since last closing lower on March 18.

In PGM futures on Thursday:

  • April platinum rose $7.50, or 0.7%, to $1,154 an ounce, ranging from $1,141.20 to $1,163.90.

  • Palladium for June delivery settled up $7.95, or 1%, to $773.35 an ounce, trading between $762.15 and $779.30.

London Precious Metals Prices

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

  • Gold gained $8.15, or 0.7%, to $1,203.15 an ounce,
  • Silver jumped 19 cents, or 1.1%, to $17.13 an ounce,
  • Platinum added $8, or 0.7%, to $1,154 an ounce, and
  • Palladium rose $11, or 1.4%, to $776 an ounce.

US Mint Bullion Coin Sales in March

United States Mint sales advanced Thursday for one-tenth ounce American Gold Eagles, up 10,000. This listing of U.S. Mint bullion products show the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Thursday Sales Last Week Current Week February Sales March Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 0 9,000 3,500 12,500 29,000 93,000
$25 American Eagle 1/2 Oz Gold Coins 0 0 0 2,000 4,000 24,000
$10 American Eagle 1/4 Oz Gold Coins 0 4,000 2,000 0 8,000 44,000
$5 American Eagle 1/10 Oz Gold Coins 10,000 15,000 10,000 50,000 65,000 230,000
$50 American Buffalo 1 Oz Gold Coins 0 4,500 500 12,000 8,500 55,000
$1 American Eagle 1 Oz Silver Coins 0 637,000 787,000 3,022,000 2,855,000 11,407,000
2015 Homestead 5 Oz Silver Coins 0 0 5,300 20,000 13,300 33,300

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