Gold Prices Bounce Over $1,200; Rises 0.7%

by CoinNews.net on April 15, 2015 · 0 comments

Gold bullion in pile

Precious metals snapped a two-session losing streak

Precious metals settled higher for the first time in three sessions Wednesday, although gains were mostly modest. Silver and gold performed the best, each rising 0.7%.

Rebounding from its lowest close of the month, gold for June delivery added $8.70 to settle at $1,201.30 an ounce on the Comex division of the New York Mercantile Exchange. The yellow metal traded between $1,188.30 and $1,202.90.

"Gold prices ended the U.S. trading session modestly higher Wednesday. Some weaker-than-expected U.S. economic data released Wednesday morning prompted some short-covering and bargain-hunting buying interest in gold," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Also, the U.S. dollar index backed down from its overnight high following the disappointing batch of U.S. data."

Silver for May delivery tacked on 12 cents to close at $16.28 an ounce. Prices ranged from $16.05 to $16.34.

Elsewhere in precious metals trading:

  • July platinum edged up $2.90, or 0.3%, to $1,156.60 an ounce, trading between $1,147 and $1,165.

  • Palladium for June delivery gained $4.60, or 0.6%, to $767.10 an ounce, ranging from $758.55 to $775.

London Precious Metals Prices

Earlier fixed London precious metals also changed slightly. In comparing London bullion prices from Tuesday PM to Wednesday PM:

  • Gold slipped $1.85, or 0.2%, to $1,192.90 an ounce,
  • Silver rose a dime, or 0.6%, to $16.18 an ounce,
  • Platinum gained $1, or 0.1%, to $1,148 an ounce, and
  • Palladium added $3, or 0.4%, to $763 an ounce.

US Mint Bullion Coin Sales in April

United States Mint bullion sales were unchanged as of 2:40 PM ET. This listing of U.S. Mint bullion products show the number of coins sold during varying periods. 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 0 1,500 5,000 35,000 6,500 105,500
$25 American Eagle 1/2 Oz Gold Coins 0 1,000 0 5,000 2,000 27,000
$10 American Eagle 1/4 Oz Gold Coins 0 2,000 0 8,000 2,000 46,000
$5 American Eagle 1/10 Oz Gold Coins 0 10,000 10,000 70,000 20,000 255,000
$50 American Buffalo 1 Oz Gold Coins 0 2,500 1,500 9,500 5,500 61,500
$1 American Eagle 1 Oz Silver Coins 0 771,000 575,500 3,519,000 1,418,500 13,489,500
2015 Homestead 5 Oz Silver Coins* 15,000 35,000

 

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