Gold Ends Slightly Lower For Second Day

by CoinNews.net on April 4, 2019 · 0 comments

Bullion gold bars and US $100s.

Gold futures ended 0.08% lower Thursday, April 4

Gold and silver futures finished slightly lower Thursday. PGM’s ended divided with platinum soaring 3.5% and palladium dropping 3.3%. Gold’s modest loss was its second in a row.

Gold for June delivery declined $1, or nearly 0.1%, to settle at $1,294.30 an ounce on the Comex division of the New York Mercantile Exchange.

"Even though we had a favorable backdrop being created by a more dovish U.S. Federal Reserve, gold is following the dollar, real yields and equities very closely at the moment," Reuters quoted Suki Cooper, precious metals analyst at Standard Chartered Bank.

"But still, the broader backdrop is supportive for gold and we expect the dollar to weaken more in the second half of the year," Cooper added.

Gold futures traded from a low of $1,284.90 to a high of $1,298.70. They lost less than 0.1% on Wednesday, gained less than 0.1% on Tuesday, and fell 0.3% on Monday — ending at their lowest point since March 11.

Silver for May delivery fell 1.8 cents, or 0.1%, to settle at $15.084 an ounce. Silver futures ranged from $14.86 to $15.15. They rose 0.3% on Wednesday, declined 0.3% on Tuesday and lost less than 0.1% on Monday. Last Thursday, prices settled at $14.973 an ounce for their worst close since Dec. 24.

In other precious metals futures on Thursday:

  • July platinum advanced $30.30 to $904.50 an ounce, trading between $873.30 and $904.80.

  • Palladium for June delivery plunged $45.80 to $1,332.30 an ounce, ranging from $1,329.40 to $1,383.90.

London Precious Metals Prices

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

  • Gold declined $7.30, or 0.6%, to $1,283.15 an ounce.
  • Silver declined 8 cents, or 0.5%, to $15.085 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 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)
Thursday Last Week This Week / April February March 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 0 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 0 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 0 0 2,000 6,000 5,500 37,000
$1 American Eagle 1 Oz Silver Coin 0 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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