Gold Dips As Palladium Scores Another Record

by CoinNews.net on March 18, 2019 · 0 comments

Gold bullion and nuggets

Gold prices slipped 0.1% on Monday, March 18

Precious metals were divided Monday with gold and silver closing lower and platinum and palladium finishing higher. Palladium logged a new record settlement.

Gold for April delivery shed $1.40, or 0.1%, to settle at $1,301.50 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold price is dancing just above the $1,300 threshold, without a clear direction … bullion has been so far unable to surpass $1,310 and remains deadlocked close to $1,300 in this ‘wait-and-see’ scenario," Reuters quoted ActivTrades chief analyst Carlo Alberto De Casa.

Gold futures ranged from a low of $1,298 to a high of $1,306.70. They rose 0.3% last week.

Silver for May delivery dipped less than a half cent to close at $15.322 an ounce. Silver futures traded between $15.22 and $15.43. They lost 0.2% last week.

In other precious metals futures prices on Monday:

  • April platinum moved up $2.20, or 0.3%, to $834 an ounce, ranging from $823.60 to $839.80.

  • Palladium for June delivery advanced $21.20, or 1.4%, to $1,539.70 an ounce, trading between $1,500.90 and $1,541.80.

The pair scored gains last week reaching 1.7% for platinum and 4.1% and palladium.

London Precious Metals Prices

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

  • Gold added $2.10, or 0.2%, to $1,305.60 an ounce.
  • Silver added 2.5 cents, or 0.2%, to $15.38 an ounce.

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

LBMA prices last week posted increases of 0.5% for gold, 1.6% for silver, 1.6% for platinum, and 3% for palladium.

US Mint 2019 Bullion Sales

United States Mint bullion sales increased by a combined 1,000 ounces with equal splits between American Eagle and Buffalo gold coins.

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 March 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 0 2,000 27,100 2,400 2,000 31,500
$50 American Eagle 1 Oz Gold Coin 500 5,500 44,500 11,000 7,500 63,000
$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 4,000 20,000 0 4,000 24,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 90,000 10,000 5,000 105,000
$50 American Buffalo 1 Oz Gold Coin 500 3,500 23,500 6,000 4,500 34,000
$1 American Eagle 1 Oz Silver Coin 0 850,000 4,017,500 2,157,500 850,000 7,025,000
Lowell 5 Oz Silver Coin 0 80,000 N/A 80,000 80,000

 

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