Gold and Silver End At Fresh, Nearly 3-Month Highs

by CoinNews.net on February 7, 2017 · 0 comments

Four Gold Ingots, One Silver Bullion Bar

Precious metals futures were mixed Tuesday, with gold and silver higher and platinum and palladium lower

Gold and silver futures ended at new, nearly three-month highs Tuesday. Gold’s gain was a fourth in a row.

Gold for April delivery added $4, or 0.3%, to end at $1,236.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Nov. 10 when prices closed at $1,266.40 an ounce.

"The precious metals bulls worked to shrug off a stronger U.S. dollar today, which had kept the metals bulls somewhat subdued overnight and in very early U.S. trading," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The near-term chart postures for gold and silver markets have significantly improved recently, which have the bulls feeling more comfortable than they have been in months."

Gold futures ranged from a low of $1,229.20 to a high of $1,237.50. They gained 1% in the previous session.

Higher for a third straight session, silver for March delivery added 6.3 cents, or 0.4%, to $17.756 an ounce. The settlement is also the highest since Nov. 10, when silver finished at $18.737 an ounce. Silver futures traded between $17.56 and $17.80.

In rounding out precious metals trading:

  • April platinum dipped $1.20, or 0.1%, to $1,012.90 an ounce, ranging from $1,006.20 to $1,018.

  • Palladium for March delivery declined $9.85, or 1.3%, to $764.45 an ounce, trading between $745.80 and $774.10.

London Precious Metals Prices

In comparing earlier fixed London bullion prices from Monday PM to Tuesday PM:

  • Gold rose $4.25, or 0.4%, to $1,231 an ounce.
  • Silver was flat at $17.60 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 2017

U.S. Mint bullion sales advances included 2,500 ounces in gold coins and 176,000 ounces in silver coins. Below is a sales breakdown of U.S. bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Tuesday Sales Last Week This Week Jan Sales Feb Sales 2017 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 20,000 0 20,000
$50 American Eagle 1 Oz Gold Coin 500 8,000 2,500 86,500 4,000 95,000
$25 American Eagle 1/2 Oz Gold Coin 1,000 0 1,000 19,000 1,000 20,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 36,000 0 36,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 10,000 5,000 125,000 10,000 135,000
$50 American Buffalo 1 Oz Gold Coin 1,000 4,000 2,500 32,000 5,000 37,000
$1 American Eagle 1 Oz Silver Coin 125,000 230,000 250,000 5,127,500 250,000 5,377,500
2017 Effigy Mounds 5 Oz Silver Coin 10,200 17,700 100 17,700 17,700
2016 Shawnee 5 Oz Silver Coins*
2016 Cumberland Gap 5 Oz Silver Coin*
2016 Harpers Ferry 5 Oz Silver Coin 0 0 0 100 0 0
2016 Theodore Roosevelt 5 Oz Silver Coin* 800
2016 Fort Moultrie 5 Oz Silver Coin 0 0 0 0 0 0

 

This article was edited to include updated U.S. Mint sales figures.

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