Gold Slips 0.6%; US Mint Gold Sales Rise

by CoinNews.net on April 8, 2015 · 0 comments

Gold bullion coins and bars

Gold prices declined Wednesday while sales of U.S. Mint gold coins rose slightly

Gold and silver settled lower for a second session in a row on Wednesday. Prices fell further in after-hours trade following the release of minutes from the Fed’s last policy meeting, though they have mostly since recovered.

Gold for June delivery declined $7.50, or 0.6%, to close at $1,203.10 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices in later electronic trading were above $1,202 an ounce.

"The U.S. dollar index was solidly lower in overnight trading Wednesday but did rebound during the U.S. trading session and then move to its daily high after the FOMC minutes," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "This also helped to pressure gold in the aftermath of the FOMC minutes."

Gold prices in regular trading hours ranged from a low of $1,200.30 to a high of $1,212.50. In the prior session, the precious metal fell by $8, or 0.7%.

Silver for May delivery tumbled 39 cents, or 2.3%, to settle at $16.45 an ounce. Silver prices traded between $16.41 and $16.91. They dropped on Tuesday by 1.6%. Silver was last moving higher in after-hours trade, up near $16.49.

In PGM futures on Wednesday:

  • July platinum fell $7.60, or 0.7%, to $1,166.30 an ounce, ranging from $1,161.10 to $1,178.

  • Palladium for June delivery settled down $13.30, or 1.7%, to $755.70 an ounce, trading between $751.60 and $773.

London Precious Metals Prices

Earlier fixed London precious metals mostly declined, but modestly. In comparing London bullion prices from Tuesday PM to Wednesday PM:

  • Gold shed $3.75, or 0.3%, to $1,207.25 an ounce,
  • Silver dipped 2 cents, or 0.1%, to $16.84 an ounce,
  • Platinum added $2, or 0.2%, to $1,169 an ounce, and
  • Palladium fell $11, or 1.4%, to $764 an ounce.

US Mint Bullion Coin Sales in April

United States Mint gold bullion sales rose Wednesday, with the one-ounce American Gold Eagle advancing for the first time in April. A listing of their gains follow (products with an asterisk (*) are no longer available).

US Mint Bullion Sales (# of coins)
Wednesday Sales Last Week Current Week March Sales April Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 1,500 6,000 1,500 35,000 1,500 100,500
$25 American Eagle 1/2 Oz Gold Coins 0 2,000 0 5,000 1,000 26,000
$10 American Eagle 1/4 Oz Gold Coins 2,000 0 2,000 8,000 2,000 46,000
$5 American Eagle 1/10 Oz Gold Coins 0 5,000 10,000 70,000 10,000 245,000
$50 American Buffalo 1 Oz Gold Coins 1,500 2,500 1,500 9,500 3,000 59,000
$1 American Eagle 1 Oz Silver Coins 0 675,500 711,000 3,519,000 783,000 12,854,000
2015 Homestead 5 Oz Silver Coins* 1,000 15,000 35,000

 

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