Gold and Silver Settle at 1-Month Highs

by CoinNews.net on March 25, 2019 · 0 comments

Gold Bullion, five bars

Gold prices closed up 0.8% on Monday, March 25

Precious metals scored gains Monday that ranged from 0.8% for gold to 1.8% for palladium. Gold and silver finished the day at about one-month highs.

Gold for April delivery advanced $10.30 to settle at $1,322.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since Feb. 26.

"The dollar has been a bit weaker along with equities. A lot of macro numbers we have been getting have been deteriorating sharply. Central banks, which are already dovish, will be more dovish, which is good for gold," Reuters quoted INTL FCStone analyst Edward Meir.

Gold futures ranged from a low of $1,310.60 to a high of $1,322.90. They gained 0.7% last week.

Silver for May delivery rose 16 cents, or 1%, to close at $15.567 an ounce. The finish was the highest since Feb 28. Silver futures traded between $15.38 and $15.59. They climbed last week by 0.5%.

In other precious metals futures prices on Monday:

  • April platinum added $9.30, or 1.1%, to $857.70 an ounce, ranging from $841.30 to $860.70.

  • Palladium for June delivery gained $27.90 to $1,543.40 an ounce, trading between $1,501.30 and $1,574.90.

The pair divided last week. Platinum jumped 2% and palladium dipped 0.2%.

London Precious Metals Prices

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

  • Gold added $8.25, or 0.6%, to $1,319.55 an ounce.
  • Silver added 6.5 cents, or 0.4%, to $15.525 an ounce.

In LBMA results last week, palladium shed 0.1% while the others logged gains of 0.6% for gold, 0.7% for silver, and 2.6% for platinum.

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)
Monday Last Week January February March 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 0 1,000 27,100 2,400 3,000 32,500
$50 American Eagle 1 Oz Gold Coin 0 500 44,500 11,000 7,500 63,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 15,000 1,000 1,000 17,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 20,000 0 4,000 24,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 90,000 10,000 10,000 110,000
$50 American Buffalo 1 Oz Gold Coin 0 1,500 23,500 6,000 5,500 35,000
$1 American Eagle 1 Oz Silver Coin 0 0 4,017,500 2,157,500 850,000 7,025,000
Lowell 5 Oz Silver Coin 0 0 N/A 80,000 80,000

 

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