Gold Futures Log New 5-Month High

by CoinNews.net on April 12, 2017 · 0 comments

US Dollars and Gold Bullion Bars

Precious metals futures were mixed Wednesday with gold and silver higher and platinum and palladium lower

Gold futures posted a fresh, more than 5-month high Wednesday as the U.S. dollar retreated.

Gold for June delivery added $3.90, or 0.3%, to settle at $1,278.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Nov. 7.

"Ongoing geopolitical tensions across the globe and heightened political risk in Europe have limited appetite for riskier assets this week, with global stocks now on the back foot," MarketWatch quoted Lukman Otunuga, research analyst at FXTM.

Gold futures ranged from a low of $1,273.80 to a high of $1,289. They gained 1.6% on Tuesday and dipped 0.3% on Monday.

Silver for May delivery rose 4.6 cents, or 0.3%, to settle at $18.30 an ounce. The close is the highest since April 4. Silver futures traded between $18.24 and $18.59. They advanced 1.9% in the previous session and dropped 1.3% in starting the week on Monday.

In PGM futures on Wednesday:

  • July platinum shed $1.60, or 0.2%, to $967.90 an ounce, ranging from $962.90 to $977.80.

  • Palladium declined $6.80, or 0.9%, to $796.30 an ounce, trading between $789.10 and $806.70.

London Precious Metals Prices

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

  • Gold gained $21.40, or 1.7%, to $1,274.30 an ounce.
  • Silver jumped 37 cents, or 2.1%, to $18.31 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 registered gains of 500 ounces in American Gold Eagles and 500 ounces in American Gold Buffalos. 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 Mar Sales April Sales 2017 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 500 1,500 1,000 16,000 2,500 126,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 0 25,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 4,000 2,000 46,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 0 35,000 5,000 195,000
$50 American Buffalo 1 Oz Gold Coin 500 1,000 1,000 8,500 2,000 57,500
$1 American Eagle 1 Oz Silver Coin 0 255,000 125,000 1,615,000 380,000 8,337,500
2017 Frederick Douglass 5 Oz Silver Coin 0 9,700 2,300 N/A 12,000 12,000
2017 Effigy Mounds 5 Oz Silver Coin 0 600 0 200 600 20,300

 

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