Gold, Silver Extend Gains; 2017 Silver Eagle Bullion Sales Jump

by CoinNews.net on March 20, 2017 · 0 comments

Large silver bullion bar, smaller gold bar and nugget

Precious metal increases ranged from 0.1% for silver to 1% for platinum

Precious metals futures logged another day of gains in their start to the new trading week on Monday. Advances in gold and silver were their third in a row, with the former ending near a 3-week high and the latter closing at an almost 2-week high.

Gold for April delivery tacked on $3.80, or 0.3%, to settle at $1,234 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since March 1 when prices ended at $1,250 an ounce.

Monday’s "move seemed to reflect lingering reverberations from the [Fed] rate decision. The central bank raised rates as widely expected, but offered nothing to propel the hawkish narrative beyond status-quo projections," MarketWatch quoted Ilya Spivak, currency and metals analyst with Daily FX.

Gold futures ranged from a low of $1,228.80 to a high of $1,234.50. Last week, they climbed 2.4% for their first weekly increase in three weeks.

Meanwhile, silver for May delivery settled up 2.5 cents, or 0.1%, to $17.438 an ounce, marking another finish at its best price since Mar. 7. Silver futures traded between $17.36 and $17.48. They gained 2.9% last week following two straight weekly declines.

In rounding out precious metals futures dealings:

  • April platinum moved up $9.40, or 1%, to $972.40 an ounce, ranging from $962.10 to $973.30.

  • Palladium for June delivery added $5.85, or 0.8%, to $781.65 an ounce, trading between $772.65 and $785.65..

The two metals posted gains last week of 2.6% and 4.1%.

London Precious Metals Prices

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

  • Gold rose $2.80, or 0.2%, to $1,232.40 an ounce.
  • Silver fell 17 cents, or 1%, to $17.23 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 increases of 2.2% for gold, 3% for silver, 1.9% for platinum and 3.5% for palladium.

US Mint Bullion Coin Sales in 2017

U.S. Mint bullion products logged advances of:

  • 4,500 ounces in American Gold Eagles,
  • 1,500 ounces in American Gold Buffalos, and
  • 715,000 ounces in American Silver Eagles.

With today’s gains alone, Silver Eagle sales this week will close the highest since at least the week ended Jan. 20.

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 4,000 2,500 21,000 10,000 117,500
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 5,000 1,000 25,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 4,000 2,000 42,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 20,000 30,000 35,000 190,000
$50 American Buffalo 1 Oz Gold Coin 1,500 2,500 15,000 4,500 51,500
$1 American Eagle 1 Oz Silver Coin 715,000 220,000 1,215,000 1,215,000 7,557,500
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

 

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