Gold Slips from 5-Week High, Logging First Loss in 4 Sessions

by CoinNews.net on April 5, 2017 · 0 comments

Gold bullion and gold coins

Precious metals futures ended mixed Wednesday with palladium slightly higher while gold, silver and platinum declined

Gold futures settled lower for the first time in four sessions and from a 5-week high as investors sought more risk and the dollar climbed.

Gold for June delivery lost $9.90, or 0.8% to settle at $1,248.50 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices ended the U.S. day session lower Wednesday, in the wake of a robust ADP jobs report and a rallying U.S. dollar index and stock market," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily report. "Some profit taking from the shorter-term futures traders and chart consolidation were also featured following recent advances."

Gold futures ranged from a low of $1,245.40 to a high of $1,259.30. They rose 0.4% on Tuesday, ending at their highest level since Feb 27, and gained 0.2% on Monday.

Elsewhere, silver for May delivery declined 13.6 cents, or 0.7%, to settle at $18.187 an ounce. Silver futures traded between $18.14 and $18.33. They edged up 0.6% on Wednesday, scoring their best close since March 1, and slipped 0.2% on Monday.

In PGM futures Wednesday:

  • July platinum dipped $4.90, or 0.5%, to $959.60 an ounce, ranging from $955.90 to $972.20.

  • Palladium for June delivery rose 80 cents, or 0.1%, to $807.75 an ounce, trading between $801.80 and $816.45.

London Precious Metals Prices

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

  • Gold fell $11.85, or 0.9%, to $1,245.80 an ounce.
  • Silver declined 8 cents, or 0.4% to $18.26 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 Wednesday. 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)
Wednesday 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 0 2,000 2,000 4,000 46,000
$5 American Eagle 1/10 Oz Gold Coin 0 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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