Gold, Silver End at 5-Week Highs

by CoinNews.net on April 4, 2017 · 0 comments

Two silver bullion bars and gold nuggets

Precious metals futures advanced with gains ranging from 0.4% for gold to 0.7% for palladium

Precious metals futures logged modest gains Tuesday on safe-haven appeal. Gold and silver settled just above 5-week highs.

Gold for June delivery added $4.40, or 0.4% to close at $1,258.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Feb. 27 when prices ended at $1,258.80 an ounce.

"Gold has been profiting not only from the weak U.S. vehicle sales figures in March, which have weighed on sentiment among market participants, but also from falling stock markets and lower bond yields," MarketWatch quoted Carsten Fritsch and the commodities team at Commerzbank.

Gold futures ranged from a low of $1,255.50 to a high of $1,263.70. They climbed 0.2% in their start to the week on Monday.

Meanwhile, silver for May delivery gained 11.1 cents, or 0.6%, to settle at $18.323 an ounce. The settlement is the strongest since March 1 when prices ended at $18.489 an ounce. Silver futures traded between $18.21 and $18.43. They dipped 0.2% in the previous session.

In rounding out precious metals dealings:

  • July platinum rose $6.30, or 0.7%, to $964.50 an ounce, ranging from $956.90 to $968.20.

  • Palladium for June delivery moved up $4.40, or 0.6%, to $806.95 an ounce, trading between $801.90 and $810.35.

London Precious Metals Prices

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

  • Gold added $10.40, or 0.8%, to $1,257.65 an ounce.
  • Silver added 18 cents, or 1% to $18.34 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 a combined 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)
Tuesday Sales Last Week This Week / April 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 1,500 1,500 16,000 125,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 25,000
$10 American Eagle 1/4 Oz Gold Coin 2,000 2,000 2,000 4,000 46,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 0 5,000 35,000 195,000
$50 American Buffalo 1 Oz Gold Coin 0 1,500 1,000 8,500 56,500
$1 American Eagle 1 Oz Silver Coin 0 320,000 255,000 1,615,000 8,212,500
2017 Frederick Douglass 5 Oz Silver Coin 0 N/A 9,700 N/A 9,700
2017 Effigy Mounds 5 Oz Silver Coin 0 200 600 200 20,300

 

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