Gold Marks 1-Week High, Silver Scores 11-Month High

by CoinNews.net on April 19, 2016 · 0 comments

Homestake silver bar

Precious metals futures advanced Tuesday with gains ranging from 2.5% for palladium to 4.4% for silver

Precious metals futures rallied on Tuesday as the U.S. dollar settled lower and oil prices moved higher. Silver marked an 11-month high. Gold’s close was the best in a week.

Gold for June delivery advanced $19.30, 1.6%, to end at $1,254.30 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since last Tuesday when the yellow metal closed at $1,260.90 an ounce.

"The significantly weaker dollar has helped to underpin several buck-denominated precious metals and commodities of late," MarketWatch quoted Fawad Razaqzada, technical analyst at Forex.com and City Index.

Gold prices ranged from a low of $1,229 to a high of $1,258.50. The edged up 40 cents in the previous session.

Silver for May delivery surged 71.9 cents, or 4.4%, to close at $16.972 an ounce. The settlement was the highest since May 22, when prices ended at $17.05 an ounce. Silver prices traded between $16.18 and $17.11. On Monday, they declined 0.4%.

In other precious metals futures on Tuesday:

  • July platinum gained $37.90, or 3.9%, to $1,015.70 an ounce, ranging from $976 to $$1,018.50.

  • Palladium for June delivery rose $14.15, or 2.5%, to $582.15 an ounce, trading between $563.95 and $586.40.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:

  • Gold added $21.10, or 1.7%, to $1,255.40 an ounce.
  • Silver added 42 cents, or 2.6%, to $16.62 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint Bullion Coin Sales in 2016

U.S. Mint bullion coins jumped on Monday with sales of:

  • 5,000 ounces in American Gold Eagles;
  • 78,500 ounces in American Silver Eagles; and
  • 25,000 ounces in Cumberland Gap Five Ounce Silver Bullion Coins.

The U.S. Mint this week allocated sales of American Silver Eagles to 1 million coins. Distributors order 75.5% through Tuesday. 2016 Silver Eagles are at a record sales pace of 17,755,000 coins — 31.6% higher than the same time in record year 2015.

Below is a sales breakdown of United States Mint bullion products with columns listing the number of bullion coins sold during varying periods of time.

US Mint Bullion Sales (# of coins)
Tuesday Sales Last Week This Week Mar Sales Apr Sales 2016 Sales
$50 American Eagle 1 Oz Gold Coins 5,000 29,500 15,000 29,000 63,000 248,500
$25 American Eagle 1/2 Oz Gold Coins 0 2,000 1,000 1,000 4,000 34,000
$10 American Eagle 1/4 Oz Gold Coins 0 6,000 0 4,000 8,000 60,000
$5 American Eagle 1/10 Oz Gold Coins 0 10,000 0 75,000 30,000 350,000
$50 American Buffalo 1 Oz Gold Coins 0 6,000 2,000 7,000 14,000 74,000
$1 American Eagle 1 Oz Silver Coins 78,500 1,036,000 755,000 4,106,000 2,912,500 17,755,000
2016 Shawnee 5 Oz Silver Coins 0 0 0 0 0 105,000
2016 Cumberland Gap 5 Oz Silver Coins 5,000 0 53,000 0 53,000 53,000

 

{ 0 comments… add one now }

Leave a Comment