Gold Logs First Increase in 10 Sessions

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

Silver bullion bar, four gold bullion bars

Precious metals futures scored gains ranging from 0.1% for gold to 1.3% for palladium

Gold futures logged their first increase on Monday after nine straight session losses dragged prices down by a combined 4.6%.

Gold for April delivery gained $1.70, or 0.1%, to settle at $1,203.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold and silver prices ended a quieter U.S. day session slightly up Monday. Both markets saw minor upside price corrections and short covering from the shorter-term futures traders after they hit multi-week lows last Friday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Precious metals bulls are still in technical trouble amid the recent downdrafts in prices."

Gold futures ranged from a low of $1,202 to a high of $1,210.90. They declined 2.1% last week, ending at their lowest point since Jan. 30.

Snapping a four-session losing streak, silver for May delivery settled up 4.9 cents, or 0.3%, to $16.972 an ounce. Silver futures traded between $16.96 and $17.16. They tumbled 4.6% last week, and marked their weakest close since Jan. 26.

In other precious metals futures:

  • April platinum added $3, or 0.3%, to $941.20 an ounce, ranging from $938.70 to $949.20.

  • Palladium for June delivery tacked on $9.30, or 1.3%, to $754.45 an ounce, trading between $746.15 and $758.00.

Both metals declined last week — platinum by 5.6% and palladium by 2.9%.

London Precious Metals Prices

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

  • Gold added $1.55, or 0.1%, to $1,204.20 an ounce.
  • Silver added 13 cents, or 0.8%, to $17.02 an ounce.

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

Last week, London metal prices registered losses totaling 2% for gold, 4.4% for silver, 4.6% for platinum and 0.5% for palladium.

US Mint Bullion Coin Sales in 2017

U.S. Mint bullion sales were unchanged as of 3:40 p.m. ET. 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 Feb Sales Mar Sales 2017 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 3,500 21,000 3,500 111,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 5,000 0 24,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 4,000 0 40,000
$5 American Eagle 1/10 Oz Gold Coin 0 10,000 30,000 10,000 165,000
$50 American Buffalo 1 Oz Gold Coin 0 500 15,000 500 47,500
$1 American Eagle 1 Oz Silver Coin 0 280,000 1,215,000 280,000 6,622,500
2017 Effigy Mounds 5 Oz Silver Coin 0 0 19,500 0 19,500
2016 Shawnee 5 Oz Silver Coins*
2016 Cumberland Gap 5 Oz Silver Coin*
2016 Harpers Ferry 5 Oz Silver Coin 0 0 0 0 0
2016 Theodore Roosevelt 5 Oz Silver Coin*
2016 Fort Moultrie 5 Oz Silver Coin 0 0 0 0 0

 

{ 0 comments… add one now }

Leave a Comment