Gold prices finished at their worst level in about six weeks Tuesday, extending their losses to seven consecutive sessions.
Gold for April delivery shed $2.80, or 0.2%, to settle at $1,284.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Jan. 24.
"With the U.S.-China trade agreement looking like it will happen and the softening of Brexit negotiations seeming to be developing into a positive thing, people are getting out of metals and converting it to equities," Reuters quoted Walter Pehowich, executive vice president of investment services at Dillon Gage Metals.
"If there is a (trade) agreement, there is a lot more room on the upside for equities and then the bull run in gold is over."
Gold futures ranged from a low of $1,282 to a high of $1,290.60. They declined 0.9% on Monday.
Elsewhere, silver for May delivery was unchanged at $15.105 an ounce. The settlement was the lowest since Dec. 24. Silver futures traded between $15.06 and $15.18. They declined 1% on Monday.
In other precious metals futures dealings:
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April platinum slipped 90 cents, or 0.1%, to $838 an ounce, ranging from $835 to $843.10.
- Palladium for June delivery fell $19.20, or 1.3%, to $1,465.90 an ounce, trading between $1,460 and $1,493. Last Tuesday, the precious metal marked a record settlement of $1,519.70 an ounce.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM
- Gold declined $1.60, or 0.1%, to $1,283.80 an ounce.
- Silver fell 5 cents, or 0.3%, to $15.11 an ounce.
LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.
US Mint 2019 Bullion Sales
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) | ||||||
|---|---|---|---|---|---|---|
| Tuesday | Last Week | January | February | March / This Week | 2019 Sales | |
| $100 American Eagle 1 Oz Platinum Coin | 0 | 600 | 27,100 | 2,400 | 0 | 29,500 |
| $50 American Eagle 1 Oz Gold Coin | 0 | 1,500 | 44,500 | 11,000 | 1,500 | 57,000 |
| $25 American Eagle 1/2 Oz Gold Coin | 0 | 0 | 15,000 | 1,000 | 0 | 16,000 |
| $10 American Eagle 1/4 Oz Gold Coin | 0 | 0 | 20,000 | 0 | 0 | 20,000 |
| $5 American Eagle 1/10 Oz Gold Coin | 0 | 0 | 85,000 | 10,000 | 0 | 100,000 |
| $50 American Buffalo 1 Oz Gold Coin | 0 | 500 | 23,500 | 6,000 | 500 | 30,000 |
| $1 American Eagle 1 Oz Silver Coin | 0 | 100,000 | 4,017,500 | 2,157,500 | 0 | 6,175,000 |
