Gold Ends at 2-1/2-Week Low, Silver Marks 6-Week Low

by CoinNews.net on April 26, 2017 · 0 comments

Gold and Silver Bullion, Gold Nugget

Gold and silver futures marked new multi-week lows.

Precious metals mostly declined Wednesday. Gold futures closed lower for a third straight session, registering a 2-1/2-week low, while silver futures retreated for a second day to end at their lowest level in 6 weeks.

Gold for June delivery lost $3, or 0.2%, to settle at $1,264.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since April 10.

"World stock markets paused at mid-week, after the good early-week gains," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "However, traders and investors worldwide are still in an upbeat mood, which is bearish for safe-haven gold."

Gold futures ranged from a low of $1,260.70 to a high of $1,269.70. They slipped 0.8% on Tuesday and declined 0.9% on Monday.

Elsewhere, silver futures for May delivery settled down 22.8 cents, or 1.3%, to $17.363 an ounce. The close is the lowest since March 16. Silver futures traded between $17.29 and $17.63. They dropped 1.5% on Tuesday and inched up less than a half-cent on Monday.

In PGM futures on Wednesday:

  • July platinum fell $9.50, or 1%, to $948.10 an ounce, ranging from $945.80 to $958.40.

  • Palladium for June delivery added $8.50, or 1.1%, to $805.15 an ounce, trading between $796.50 and $808.20.

London Precious Metals Prices

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

  • Gold fell $5.95, or 0.5%, to $1,261.85 an ounce.
  • Silver declined 25 cents, or 1.4%, to $17.59 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. 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 0 0 500 16,000 3,000 126,500
$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 0 0 4,000 2,000 46,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 10,000 35,000 20,000 210,000
$50 American Buffalo 1 Oz Gold Coin 0 500 500 8,500 3,000 58,500
$1 American Eagle 1 Oz Silver Coin 0 220,000 235,000 1,615,000 835,000 8,792,500
2017 Effigy Mounds 5 Oz Silver Coin 0 300 0 200 900 20,600
2017 Frederick Douglass 5 Oz Silver Coin 0 4,200 1,400 N/A 17,600 17,600

 

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