Gold Start Week at 5-1/2-Month High

by CoinNews.net on April 17, 2017 · 0 comments

250 g Fine Gold Bar

Gold futures ended at their best price since Nov. 4

Gold futures extended their winning streak Monday to four sessions in a row, and they marked a 5-1/2-month high.

Gold for June delivery rose $3.40, or 0.3%, to end at $1,291.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the strongest since Nov. 4 when prices closed at $1,304.50 an ounce.

"Gold is going higher here," Jason Schenker, president and founder of the Prestige Economics LLC, said in a Bloomberg TV interview Monday. "We see a gradually weakening dollar on trend. Although we expect two more rate hikes this year — September, December — and four rate hikes next year, what we also think is that a lot of that’s priced in."

Gold futures ranged from a low of $1,287.50 to a high of $1,297.40. Last week, they advanced 2.5%.

Meanwhile, silver for May delivery climbed less than a half cent to $18.514 an ounce, its highest settlement since ending Nov. 10 at $18.737 an ounce. Silver futures traded between $18.47 and $18.66. They tacked on 2% last week.

In PGM futures on Monday:

  • July platinum added $13.70, or 1.4%, to $991.10 an ounce, ranging from $975.60 to $993.

  • Palladium declined 7.35, or 0.9%, to $788.55 an ounce, trading between $787.65 and $798.

Last week, the two metals ended divided with platinum up 1.5% and palladium down 1%.

London Precious Metals Prices

London markets shut down for Good Friday and Easter Monday holiday. The most recent PM price changes from Wednesday PM to Thursday PM had:

  • Gold added $9.85, or 0.8%, to $1,284.15 an ounce.
  • Silver rose 25 cents, or 1.4%, to $18.56 an ounce.
  • Platinum climbed $13, or 1.4%, to $975 an ounce.
  • Palladium added $13, or 1.6%, to $807 an ounce.

US Mint Bullion Coin Sales in 2017

U.S. Mint bullion sales were unchanged as of 4:33 p.m. ET. 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 Mar Sales April Sales 2017 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 1,000 16,000 2,500 126,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 0 25,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 4,000 2,000 46,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 35,000 5,000 195,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 8,500 2,000 57,500
$1 American Eagle 1 Oz Silver Coin 0 125,000 1,615,000 380,000 8,337,500
2017 Frederick Douglass 5 Oz Silver Coin 0 2,300 N/A 12,000 12,000
2017 Effigy Mounds 5 Oz Silver Coin 0 0 200 600 20,300

 

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