Palladium Posts Fresh Record, Gold Rises After Fed Statement

by CoinNews.net on March 20, 2019 · 0 comments

Gold and Silver Bullion, Gold Nugget

Gold finished 0.4% lower Wednesday and then climbed in after-hours trading

Platinum and palladium advanced for a third straight session Wednesday, with palladium also extending its streak to three in a row for record settlements. Gold and silver, meanwhile, ended lower in normal hours and then gained later in electronic trading following the release of the Fed’s latest monetary policy statement.

Gold for April delivery shed $4.80, or 0.4%, to settle at $1,301.70 an ounce on the Comex division of the New York Mercantile Exchange. Gold futures ranged from a low of $1,301.20 to a high of $1,308.50. They rose 0.4% on Tuesday and slipped 0.1% on Monday. In electronic trading after the Fed news, gold prices moved toward $1,315 an ounce.

"Gold prices also hit a three-week high, post-FOMC," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily note. "The metals are lifted by a surprisingly more dovish tone coming from the FOMC statement that was just released."

Silver for May delivery declined 5.4 cents, or 0.4%, to close at $15.318 an ounce. Silver futures traded between $15.26 and $15.39. They gained 0.3% on Tuesday and shed less than a half cent on Monday. The precious metal was last near $15.50 an ounce in after-hours trading.

In PGM futures on Wednesday:

  • April platinum settled up $7, or 0.8%, to $859.60 an ounce, ranging from $850.40 to $867.40.

  • Palladium for June delivery gained $8.50, or 0.6%, to $1,560.40 an ounce, trading between $1,548.30 and $1,565.50.

London Precious Metals Prices

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

  • Gold declined $4, or 0.3%, to $1,303.70 an ounce.
  • Silver fell 9 cents, or 0.6%, to $15.32 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 rose with gains of 500 ounces in American Platinum Eagles and 500 ounces in American Gold Buffalos. 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 January February March 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 500 2,000 500 27,100 2,400 2,500 32,000
$50 American Eagle 1 Oz Gold Coin 0 5,500 500 44,500 11,000 7,500 63,000
$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 4,000 0 20,000 0 4,000 24,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 0 90,000 10,000 5,000 105,000
$50 American Buffalo 1 Oz Gold Coin 500 3,500 1,000 23,500 6,000 5,000 34,500
$1 American Eagle 1 Oz Silver Coin 0 850,000 0 4,017,500 2,157,500 850,000 7,025,000
Lowell 5 Oz Silver Coin 0 80,000 0 N/A 80,000 80,000

 

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