Gold, Silver Slip from 1-Month Highs

by CoinNews.net on March 26, 2019 · 0 comments

closeup of gold bullion

Gold futures shed 0.6% on Tuesday, March 26

Precious metals ended mostly lower Tuesday. Not platinum, which advanced for a second day in a row. Gold and silver, meanwhile, slipped from their one-month highs.

Gold for April delivery declined $7.60, or 0.6%, to settle at $1,315 an ounce on the Comex division of the New York Mercantile Exchange.

Gold and silver fell "on normal downside corrections following recent gains that pushed prices to multi-week highs recently," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily report. "Some profit-taking from the shorter-term futures traders was also featured today."

Gold futures ranged from a low of $1,312.10 to a high of $1,323. They advanced 0.8% on Monday, ending at their best level since Feb. 26.

Silver for May delivery dropped 13.8 cents, or 0.9%, to settle at $15.429 an ounce. Silver futures traded between $15.39 and $15.56. They rose 1% on Monday, marking their best close since Feb. 28.

In rounding out precious metals futures Tuesday:

  • April platinum added $2.10, or 0.2%, to $859.80 an ounce, ranging from $850.10 to $863.10.

  • Palladium for June delivery lost $27.50, or 1.8%, to $1,515.90 an ounce, trading between $1,504.90 and $1,549.50.

London Precious Metals Prices

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

  • Gold declined $3.25, or 0.3%, to $1,316.30 an ounce.
  • Silver fell 8.5 cents, or 0.6%, to $15.44 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 coins logged their first gains of the week. Increases included 500 ounces in American Platinum Eagles and 500 ounces in American Gold 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)
Tuesday / This Week Last Week January February March 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 500 1,000 27,100 2,400 3,500 33,000
$50 American Eagle 1 Oz Gold Coin 500 500 44,500 11,000 8,000 63,500
$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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