Gold Ends Lower for Tenth Time in Eleven Sessions

by CoinNews.net on March 14, 2017 · 0 comments

Bullion Gold Bars, Three

Precious metals futures declined Tuesday. Losses were slight for gold, silver and platinum.

Gold futures edged modestly lower Tuesday after rising on Monday for the first time in ten sessions.

Gold for April delivery dipped 50 cents, or less than 0.1%, to settle at $1,202.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold and silver prices ended the U.S. day session slightly lower in two-sided, narrow-ranges trading Tuesday," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Mild short covering from the shorter-term traders and some bargain buying in the cash markets were offset by bearish outside markets on this day."

Gold futures ranged from a low of $1,196.90 to a high of $1,207.50. In the previous session, they climbed 0.1%.

Ending down for the fifth time in six sessions, silver for May delivery fell 4.9 cents, or 0.3%, to $16.923 an ounce, matching its settlement on Friday for the lowest close since Jan. 26. Silver futures traded between $16.87 and $17.07. They rose 0.3% on Monday.

In other precious metals futures prices Tuesday:

  • April platinum declined $2.30, or 0.2%, to $938.90 an ounce, ranging from $936.70 to $945.20.

  • Palladium for June delivery dropped $12.75, or 1.7%, to $741.70 an ounce, trading between $740.70 and $754.50.

London Precious Metals Prices

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

  • Gold added 40 cents, or less than or 0.1%, to $1,204.60 an ounce.
  • Silver slipped 2 cents, or 0.1%, to $17.00 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 sales were unchanged Tuesday. 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 / This Week 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