Gold and Silver Prices End at 14-Week Highs

by CoinNews.net on February 16, 2017 · 0 comments

Silver bullion bars, gold bullion bars, scales

Precious metals scored gains ranging from 0.6% for silver and platinum to 0.9% for palladium

Precious metals futures advanced in tandem for a second straight session Thursday as the U.S. dollar continued to show weakness. Gold and silver each notched about 14-week highs.

Gold for April delivery gained $8.50, or 0.7%, to close at $1,241.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Nov. 10 when prices ended at $1,266.40 an ounce.

"The dollar is weaker, Treasury yields are down and stocks are lower," MarketWatch quoted Michael Armbruster, principal and co-founder at Altavest. "That is a nice trifecta for gold."

Gold futures ranged from a low of $1,233.30 to a high of $1,241.20. They advanced 0.6% on Wednesday and logged declines of less than 0.1% on Tuesday and 0.8% on Monday.

Ending higher for the fifth time in six sessions, silver for March delivery rose 11.1 cents, or 0.6%, to $18.074 an ounce. Like for gold, the settlement is the highest since Nov. 10. Silver futures traded between $17.93 and $18.14. They are 0.8% higher on the week.

In rounding out precious metals futures:

  • April platinum moved up $5.80, or 0.6%, to $1,015.70 an ounce, ranging from $1,011.30 to $1,021.70.

  • Palladium for March delivery gained $7.10, or 0.9%, to $793.30 an ounce, trading between $786.80 and $795.85.

London Precious Metals Prices

In comparing earlier fixed London bullion prices from Wednesday PM to Thursday PM:

  • Gold added $16.15, or 1.3%, to $1,240.55 an ounce.
  • Silver added 22 cents, or 1.2%, to $18.10 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 advanced by 500 ounces in American Gold Eagles and by 500 ounces in American Gold Buffalos.

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)
Thursday 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 10,000 4,500 86,500 16,000 102,500
$25 American Eagle 1/2 Oz Gold Coin 0 4,000 0 19,000 4,000 23,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 36,000 0 36,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 5,000 125,000 15,000 140,000
$50 American Buffalo 1 Oz Gold Coin 500 5,000 4,500 32,000 12,000 44,000
$1 American Eagle 1 Oz Silver Coin 0 250,000 310,000 5,127,500 560,000 5,687,500
2017 Effigy Mounds 5 Oz Silver Coin 0 17,700 0 100 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 updates U.S. Mint sales figures.

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