Gold Futures Decline as Stocks Rally; US Mint Bullion Sales Rise

by CoinNews.net on April 24, 2017 · 0 comments

999.9 Fine Gold Bar

Precious metals ended mixed Monday. Gold declined 0.9%.

Gold futures settled lower in their start to the new trading week on Monday as investors sought riskier assets.

Gold for June delivery gave back $11.60, or 0.9%, to finish at $1,277.50 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices were ending the U.S. day session lower but up from the daily low Monday, as safe-haven assets were hit hard by rallying risk assets that include world stock markets and the Euro currency," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

"Other Safe-haven assets, U.S. Treasuries and U.S. dollar index prices, also saw price declines Monday as the world stock markets were in rally mode," Wyckoff added.

Gold futures ranged from a low of $1,266 to a high of $1,280. They edged up 60 cents last week for their sixth consecutive weekly gain. As recently as Tuesday, they closed at a 5-1/2-month high.

Eking out a gain, their first in five sessions, silver futures for May added less than a half-cent to end at $17.858 an ounce. Silver futures traded between $17.55 and $17.90. They sank 3.5% last week.

In other precious metals futures on Monday:

  • July platinum fell $17.40, or 1.8%, to $960.20 an ounce, ranging from $955.50 to $975.10.

  • Palladium added $4.70, or 0.6%, to $795.45 an ounce, trading between $789.15 and $800.10.

The two metals divided last week with platinum up 20 cents and palladium down 0.7%.

London Precious Metals Prices

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

  • Gold declined $12.45, or 1%, to $1,269.40 an ounce.
  • Silver fell 17 cents, or 1%, to $17.81 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

Last week, platinum rose 0.4% with the other London metal prices dropped by 0.2% for gold, 3.1% for silver, and 0.5% for palladium.

US Mint Bullion Coin Sales in 2017

U.S. Mint bullion products registered gains of 2,000 ounces in gold coins and 242,000 ounces in silver coins. 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 500 0 16,000 3,000 126,500
$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 10,000 5,000 35,000 20,000 210,000
$50 American Buffalo 1 Oz Gold Coin 500 500 8,500 3,000 58,500
$1 American Eagle 1 Oz Silver Coin 235,000 220,000 1,615,000 835,000 8,792,500
2017 Effigy Mounds 5 Oz Silver Coin 0 300 200 900 20,600
2017 Frederick Douglass 5 Oz Silver Coin 1,400 4,200 N/A 17,600 17,600

 

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