Gold Bounces Modestly From Three-Week Low

by CoinNews.net on April 2, 2019 · 0 comments

Shelves of gold bullion bars

Gold futures rose 0.09% on Tuesday, April 2

Precious metals futures changed little Tuesday. Gold climbed less than 0.1%, but in doing so rebounded from a three-week low.

Gold for June delivery gained $1.20 to settle at $1,295.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Equities have turned negative here … It’s a tug of war between the equities and precious metals markets," said Bob Haberkorn, senior market strategist at RJO Futures."Gold is going to be stuck in a range-bound movement for the time being unless there is a breakdown in equity markets."

Gold futures traded from a low of $1,289.50 to a high of $1,296.40. They fell 0.3% on Monday, ending at their lowest point since March 11.

Silver for May delivery declined 3.8 cents, or 0.3%, to settle at $15.061 an ounce. Silver futures ranged from $14.90 to $15.09. Yesterday, they dipped less than 0.1%. Last Thursday, prices settled at $14.973 an ounce for their worst close since Dec. 24.

In other precious metals futures prices Tuesday:

  • July platinum lost $2.80, or 0.3%, to $852.50 an ounce, trading between $849.40 and $859.40.

  • Palladium for June delivery advanced $8.50, or 0.6%, to $1,400.30 an ounce, ranging from $1,364.80 to $1,408.50.

London Precious Metals Prices

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

  • Gold fell $3.20, 0.3%, to $1,290.30 an ounce.
  • Silver declined 4.5 cents, or 0.3%, to $15.025 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 up by a combined 1,000 ounces in gold coins, by 500 ounces in platinum coins, and by 276,500 ounces in silver 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)
Tuesday Last Week This Week / April February March 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 500 1,000 600 2,400 4,000 34,100
$50 American Eagle 1 Oz Gold Coin 0 1,000 1,000 11,000 8,500 65,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 1,000 17,000
$10 American Eagle 1/4 Oz Gold Coin 2,000 0 2,000 0 4,000 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 5,000 10,000 15,000 120,000
$50 American Buffalo 1 Oz Gold Coin 500 0 2,000 6,000 5,500 37,000
$1 American Eagle 1 Oz Silver Coin 276,500 0 539,500 2,157,500 850,000 7,564,500
Lowell 5 Oz Silver Coin 0 0 0 N/A 80,000 80,000

 

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