Gold Rises Above $1,300 For 1-1/2-Week High

by CoinNews.net on April 8, 2019 · 0 comments

Gold bullion bars

Gold futures rose 0.5 cents Monday, April 8

Precious metals futures settled ahead Monday. Gold’s second straight daily gain lifted it above $1,300 an ounce and for its highest close in about one and a half weeks.

Gold for June delivery rose $6.30, or 0.5%, to close at $1,301.90 an ounce on the Comex division of the New York Mercantile Exchange. The finish was the highest since March 27.

"There’s a little bit of easing risk appetite, the U.S. dollar is weak and we saw Chinese central bank’s acquisition of gold for a fourth month. A combination of all these factors have moved gold into the $1,300s," Reuters quoted Bart Melek, head of commodity strategies at TD Securities in Toronto.

Gold futures ranged from a low of $1,295.50 to a high of $1,307.90. They shed 0.2% last week.

Silver for May delivery settled up 13 cents, or 0.9%, to $15.216 an ounce. Silver futures traded between $15.07 and $15.28, Like gold, they declined last week by 0.2%.

In other precious metals futures Monday:

  • July platinum rose $7.50, or 0.8%, to settle at $912.90 an ounce, ranging from $905.10 to $920.40.

  • Palladium for June delivery added $7.20, or 0.5%, to $1,353.10 an ounce, trading between $1,335.20 and $1,364.30.

The pair last week logged respective gains of 6% and 0.3%.

London Precious Metals Prices

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

  • Gold rose $11.55, or 0.9%, to $1,300 an ounce.
  • Silver declined 5.5 cents, or 0.4%, to $15.14 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

In LBMA results last week, silver gained 0.6% and platinum jumped 6.2% while gold fell 0.5% and platinum declined 2.7%.

US Mint 2019 Bullion Sales

United States Mint bullion sales moved up by 500 ounces in American Gold Eagles and by 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)
Monday Last Week February March April 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 0 1,100 2,400 4,000 1,100 34,600
$50 American Eagle 1 Oz Gold Coin 500 2,000 11,000 8,500 2,500 66,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 1,000 0 17,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 4,000 2,000 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 10,000 15,000 5,000 120,000
$50 American Buffalo 1 Oz Gold Coin 500 3,000 6,000 5,500 3,500 38,500
$1 American Eagle 1 Oz Silver Coin 0 550,000 2,157,500 850,000 550,000 7,575,000
Lowell 5 Oz Silver Coin 0 0 N/A 80,000 0 80,000

 

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