Gold Dips from 3-Week High, Silver Rises to 2-1/2-Week High

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silver bars, 3 and 1
Silver futures ended at their highest level since March 1

Precious metals futures were mixed but mostly higher Thursday. Gold futures declined from a 3-week high, registering their first loss in six sessions. Silver, meanwhile, bounced slightly and ended at a 2-1/2-week high.

Gold for April delivery shed $2.50, or 0.2%, to settle at $1,247.20 an ounce on the Comex division of the New York Mercantile Exchange.

On a technical basis, "gold is challenging a long-term downtrend around $1,250 which if broken, would ignite buying toward the next big technical challenge just near $1,300 — another long term downtrend line," MarketWatch quoted Peter Spina, president and chief executive officer of GoldSeek.com.

Gold futures ranged from a low of $1,242.70 to a high of $1,253.30. They climbed 0.3% on Wednesday — ending at their best price since March 1, rose 1% on Tuesday, and moved up 0.3% on Monday.

Ending higher for the fifth time in six sessions, silver for May delivery gained 1.5 cents, or nearly 0.1%, to $17.593 an ounce. The settlement is the highest since March 6. Silver futures traded between $17.52 and $17.71. They slipped by a half-penny on Wednesday, gained 0.8% on Tuesday, and edged up 0.1% on Monday.

In other precious metals dealings:

  • April platinum added $1.90, or 0.2%, to $963.80 an ounce, ranging from $957.10 to $971.90.

  • Palladium for June delivery rose $10.70, or 1.4%, to $800.15 an ounce, trading between $786.90 and $809.95.

London Precious Metals Prices

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

  • Gold dipped $1.55, or 0.1%, to $1,247.50 an ounce.
  • Silver slipped 3 cents, or 0.2%, to $17.55 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 1,000 ounces in American Gold Eagles. 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 Feb Sales Mar Sales 2017 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 1,000 2,500 8,500 21,000 14,500 122,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 5,000 1,000 25,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 4,000 2,000 42,000
$5 American Eagle 1/10 Oz Gold Coin 0 20,000 5,000 30,000 35,000 190,000
$50 American Buffalo 1 Oz Gold Coin 0 2,500 4,000 15,000 7,000 54,000
$1 American Eagle 1 Oz Silver Coin 0 220,000 795,000 1,215,000 1,295,000 7,637,500
2017 Effigy Mounds 5 Oz Silver Coin 0 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 0
2016 Theodore Roosevelt 5 Oz Silver Coin*
2016 Fort Moultrie 5 Oz Silver Coin 0 0 0 0 0 0

 

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