Gold Rises 0.3%, Silver Jumps to 12-Week High

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

Gold and Silver Bullion, Gold Nugget

Metals gained Wednesday, April 18. Silver scored its best close since Jan. 26.

Precious metals futures advanced Wednesday. Silver was high among leaders, posting its strongest close in about twelve weeks.

Gold for June delivery gained $4, or 0.3%, to settle at $1,353.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since last Wednesday, April 11.

"We are up on safe-haven demand and a general commodities move," Reuters quoted George Gero, managing director of RBC Wealth Management, adding concerns over U.S. sanctions on Russia still remain.

"If gold can remain above the $1,350 level for a couple of days there is a good chance to see it jumping up to $1,400," he said.

Gold futures traded between $1,345 and $1,359. They dipped less than 0.1% on Tuesday. On Monday, they rose 0.2%.

Advancing for the ninth time in ten sessions, silver for May delivery soared 46.1 cents, or 2.8%, to settle at $17.248 an ounce. The settlement was the highest since Jan. 26. Silver futures ranged from $16.73 to $17.28. They rose 0.7% on Tuesday and edged up 0.1% on Monday.

In PGM futures on Wednesday:

  • July platinum added $5.80, or 0.6%, to $945.80 an ounce, trading between $938.60 and $952.30.

  • Palladium for June delivery surged $29.95, or 3%, to $1,034.95 an ounce, ranging from $1,002.40 to $1,037.50.

London Precious Metals Prices

LBMA bullion prices are available on the LBMA website with a delay of midnight.

US Mint Bullion Sales in 2018

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

US Mint Bullion Sales (# of coins)
Wednesday Last Week This Week March April 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 2,000 500 2,500 2,500 46,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 0 0 16,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 0 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 10,000 0 95,000
$50 American Buffalo 1 Oz Gold Coin 0 500 500 1,000 1,000 29,500
$1 American Eagle 1 Oz Silver Coin 0 125,000 275,000 915,000 610,000 5,702,500
Pictured Rocks 5 Oz Silver Coin 0 0 0 10,000 0 30,000
Apostle Islands 5 Oz Silver Coin 0 N/A 30,000 N/A 30,000 30,000

 

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