Gold, Silver Log Third Straight Session of Modest Losses

by CoinNews.net on February 22, 2017 · 0 comments

one-ounce gold, sqare bars

Precious metals futures posted losses ranging from 0.3% for silver and platinum to 1.3% for palladium

Gold and silver futures declined for a third straight session Wednesday, though their losses for the days each combine to only 0.7%.

Gold for April delivery shed $5.60, or 0.5%, to settle at $1,233.30 an ounce on the Comex division of the New York Mercantile Exchange.

"The gold market bulls are impressed by the yellow metal’s resilience this week, in the face of solid gains in the U.S. dollar index and growing notions of an imminent U.S. interest rate rise," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

Gold futures ranged from a low of $1,231.50 to a high of $1,241.90. They slipped less than 0.1% on Tuesday and lost 0.2% on Friday.

Meanwhile, silver for March delivery fell 5.1 cents, or 0.3%, to $17.95 an ounce. Silver futures traded between $17.90 and $18.04. They logged successive losses of 0.2% on Tuesday and Friday.

In PGM futures on Wednesday:

  • April platinum declined $3.30, or 0.3%, to $1,002.70 an ounce, ranging from $998.50 to $1,008.40.

  • Palladium for March delivery fell $9.75, or 1.3%, to $769.05 an ounce, trading between $765 and $784.80.

London Precious Metals Prices

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

  • Gold rose $3.45, or 0.3%, to $1,236.65 an ounce.
  • Silver rose 11 cents, or 0.6, to $18.00 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 orders were unchanged Wednesday. 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)
Wednesday Sales Last Week Tuesday Sales 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 0 5,000 3,000 86,500 19,500 106,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 19,000 5,000 24,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 36,000 2,000 38,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 0 125,000 15,000 140,000
$50 American Buffalo 1 Oz Gold Coin 0 4,500 2,500 32,000 14,500 46,500
$1 American Eagle 1 Oz Silver Coin 0 360,000 155,000 5,127,500 765,000 5,892,500
2017 Effigy Mounds 5 Oz Silver Coin 0 1,000 600 0 19,300 19,300
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

 

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