Gold Logs Sixth Loss in Seven Sessions

by CoinNews.net on February 11, 2019 · 0 comments

Shelves of gold bullion bars

Gold futures shed 0.5% on Monday, Feb. 11

Metals moved lower Monday with losses that ranged from 0.5% for gold to 2% for platinum. Gold’s loss was its sixth in seven sessions.

Gold for April delivery settled down $6.60 to $1,311.90 an ounce on the Comex division of the New York Mercantile Exchange. Gold eased as the U.S. dollar gained.

"It appears that, facing growing uncertainty, investors are once more seeking refuge in the North American currency," MarketWatch quoted Ricardo Evangelista, senior analyst at ActiveTrades. "Concerns regarding the Chinese economy, weak growth and political tension in the Eurozone, Brexit and lingering global trade tensions are weighing in on market sentiment and the dollar is once more sought after as a refuge asset."

Gold futures ranged from a low of $1,307.10 to a high of $1,318.70. They lost 0.3% last week.

Meanwhile, silver for March delivery declined 11.9 cents, or 0.8%, to settle at $15.69 an ounce. Silver futures traded between $15.67 and $15.83. They fell 0.8% last week.

In other precious metals futures on Monday:

  • April platinum gave back $15.90 to $786.60 an ounce, ranging from $786 to $804.40.

  • Palladium for March declined $14.40, or 1.1%, to $1,356.80 an ounce, trading between $1,347.40 and $1,382.90. On Friday, the precious metal finished at a record settlement of $1,371.20 an ounce.

Last week, platinum fell 2.9% and palladium jumped 4.4%.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Friday PM to Monday PM

  • Gold declined $8.45, or 0.6%, to $1,306.40 an ounce.
  • Silver slipped 7.5 cents, or 0.5%, to $15.705 an ounce.

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

In LBMA results last week, palladium rose 1.9% while the others registered losses totaling 0.3% for gold, 1.4% for silver, and 3.2% for platinum.

US Mint 2019 Bullion Sales

Gains in United States Mint bullion coins included 1,000 ounces in American Buffalos and 550,000 ounces in American Silver Eagles.

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)
Monday Last Week January February 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 0 900 27,100 1,400 28,500
$50 American Eagle 1 Oz Gold Coin 0 3,500 44,500 4,500 49,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 15,000 1,000 16,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 20,000 0 20,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 85,000 5,000 90,000
$50 American Buffalo 1 Oz Gold Coin 1,000 3,000 23,500 4,000 27,500
$1 American Eagle 1 Oz Silver Coin 550,000 255,000 4,017,500 835,000 4,852,500

 

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