Gold and Silver Decline Thursday, March 14

by CoinNews.net on March 14, 2019 · 0 comments

Gold Bullion

Gold prices shed 1.1% Thursday, March 14

Gold, silver and platinum futures ended lower Thursday following two days of gains, while palladium lifted its winning streak to four in a row.

Gold for April delivery declined $14.20, or 1.1%, to settle at $1,295.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Some profit taking from recent gains was featured today and no significant chart damage occurred from today’s losses," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily report. "Pressure also came from downbeat economic data coming out of China and by a firmer U.S. dollar index today."

Gold futures ranged from a low of $1,292.50 to a high of $1,310.30. They gained 0.9% on Wednesday — closing at their highest point since Feb. 28, rose 0.5% on Tuesday, and slipped 0.6% on Monday.

Silver for May delivery fell 28.5 cents, or 1.8%, to close at $15.171 an ounce. Silver futures traded between $15.13 and $15.47. They added 0.3% on Wednesday, moved up 0.9% on Tuesday and declined 0.5% on Monday.

In other precious metals futures Thursday:

  • April platinum lost $14.60, or 1.7%, to $827.10 an ounce, ranging from $824.10 to $845.20.

  • Palladium for June delivery rose $7.90, or 0.5%, to $1,514.60 an ounce, trading between $1,500.30 and $1,518.30.

London Precious Metals Prices

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

  • Gold fell $11.40, or 0.9%, to $1,295.55 an ounce.
  • Silver tumbled 28.5 cents, or 1.8%, to $15.235 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 climbed by 500 ounces in American Platinum 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)
Thursday Last Week This Week January February March 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 500 0 2,000 27,100 2,400 2,000 31,500
$50 American Eagle 1 Oz Gold Coin 0 1,500 5,500 44,500 11,000 7,000 62,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 15,000 1,000 0 16,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 4,000 20,000 0 4,000 24,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 5,000 90,000 10,000 5,000 105,000
$50 American Buffalo 1 Oz Gold Coin 0 500 3,500 23,500 6,000 4,000 33,500
$1 American Eagle 1 Oz Silver Coin 0 0 850,000 4,017,500 2,157,500 850,000 7,025,000
Lowell 5 Oz Silver Coin 0 N/A 80,000 N/A 80,000 80,000

 

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