Gold Falls 0.8%, Silver Slips From 3-Month High

by CoinNews.net on February 13, 2017 · 0 comments

Gold Bullion, US Money

Precious metals logged losses ranging from 0.6% for silver to 1.1% for platinum

Precious metals futures declined in their start to the new trading week as safe-havens dulled Monday under the glare of a rising U.S. dollar and stocks. Gold ended lower for a third straight session while silver slipped from a three-month high.

Gold for April delivery declined $10.10, or 0.8%, to settle at $1,225.80 an ounce on the Comex division of the New York Mercantile Exchange.

"Bearish outside markets — lower crude oil prices and a firmer U.S. dollar index — worked against the precious metals bulls on this day," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Rallying world stock markets that are at or near record or multi-year highs are also a negative element for safe-haven gold."

Gold futures ranged from a low of $1,220.30 to a high of $1,234.40. They climbed 1.2% last week for their second straight weekly gain. Prices last closed up on Wednesday, when they clinched their own almost three-month high.

Closing lower for the first time in three sessions, silver for March delivery shed 11.2 cents, or 0.6%, to $17.821 an ounce. Silver futures traded between $17.75 and $18.02. On Friday, they ended at their highest point since Nov. 10 to lock in a sixth straight week of wins.

In other precious metals futures on Monday:

  • April platinum fell $11.40, or 1.1%, to $1,000.30 an ounce, ranging from $995.50 to $1,014.20.

  • Palladium for March delivery declined $8.15, or 1%, to $774.95 an ounce, trading between $772.65 and $787.80.

The two metals posted gains last week totaling 0.5% for platinum and 4.6% for palladium.

London Precious Metals Prices

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

  • Gold fell $6.05, or 0.5%, to $1,222.25 an ounce.
  • Silver rose 35 cents, or 2%, to $17.97 an ounce.

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

Last week, London bullion prices registered gains of 1.1% for gold, 2% for silver, 0.1% for platinum and 4.6% for palladium.

US Mint Bullion Coin Sales in 2017

U.S. Mint bullion sales posted increases of 3,500 ounces in gold coins and 75,000 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)
Monday Sales Last Week Jan Sales Feb Sales 2017 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 20,000 0 20,000
$50 American Eagle 1 Oz Gold Coin 2,000 10,000 86,500 13,500 100,000
$25 American Eagle 1/2 Oz Gold Coin 0 4,000 19,000 4,000 23,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 36,000 0 36,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 125,000 10,000 135,000
$50 American Buffalo 1 Oz Gold Coin 1,500 5,000 32,000 9,000 41,000
$1 American Eagle 1 Oz Silver Coin 75,000 250,000 5,127,500 325,000 5,452,500
2017 Effigy Mounds 5 Oz Silver Coin 0 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 0 100 0 0
2016 Theodore Roosevelt 5 Oz Silver Coin* 800
2016 Fort Moultrie 5 Oz Silver Coin 0 0 0 0 0

 

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