Gold Prices Log First Decline in Six Sessions

by CoinNews.net on January 18, 2018 · 0 comments

Gold Bullion Bars, Three

Gold futures fell 0.9% on Thursday, Jan. 18

Precious metals futures declined Thursday. Gold’s loss was its first in six sessions, with prices sliding from a more than four-month high.

Gold for February delivery dropped $12, or 0.9%, to settle at $1,327.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is due a correction after its $100 rally" since the Federal Reserve lifted a key U.S. interest rate in mid-December, MarketWatch quoted Mark O’Byrne, research director at GoldCore. "A near 8% gain in a month is quite a move up in a short period of time and ordinarily one would expect a correction."

Gold futures traded between $1,324.30 and $1,333.30. They climbed 0.2% on Wednesday — ending at their strongest price since Sept. 8, and also rose 0.2% in their start to the trading week on Tuesday.

Silver for March delivery declined 21.2 cents, or 1.2%, to settle at $16.954 an ounce. Silver futures ranged from $16.91 to $17.14. They dipped 0.1% on Wednesday and ended 0.3% higher on Tuesday.

In other precious metals futures prices:

  • April platinum declined $3.70, or 0.4%, to $1,007.20 an ounce, trading between $1,001 and $1,012.30.

  • Palladium for March delivery lost $16.40, or 1.5%, to $1,093.30 an ounce, ranging from $1,091.35 to $1,111.70. They closed at an all-time high on Wednesday.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold declined $3.45, or 0.3%, to $1,332.20 an ounce.
  • Silver fell 12 cents, or 0.7%, to $17.09 an ounce.

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

US Mint Bullion Sales in 2018

United States Mint bullion sales were unchanged Thursday. Below is a sales breakdown of U.S. bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Thursday Last Week This Week December 2017 Sales 2018 Sales
$50 American Eagle 1 Oz Gold Coin 0 27,000 2,500 38,000 228,500 29,500
$25 American Eagle 1/2 Oz Gold Coin 0 12,000 2,000 3,000 37,000 14,000
$10 American Eagle 1/4 Oz Gold Coin 0 24,000 0 4,000 64,000 24,000
$5 American Eagle 1/10 Oz Gold Coin 0 60,000 5,000 25,000 395,000 65,000
$50 American Buffalo 1 Oz Gold Coin 0 18,500 2,000 14,000 99,500 20,500
$1 American Eagle 1 Oz Silver Coin 0 2,520,000 250,000 742,000 18,065,500 2,770,000

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