Gold Ends At 1-Month Low, Logging First Decline In Five Sessions

by CoinNews.net on April 11, 2019 · 0 comments

Two gold bullion bars

Gold prices fell 1.6% on Thursday, April 11

Precious metals futures sank Thursday, registering losses ranging from 1.5% for platinum to 2.5% for silver. Gold’s loss was its first in five sessions, with prices closing at a one-month low after hitting a more than two-week high on Wednesday.

Gold for June delivery dropped $20.60, or 1.6%, to settle at $1,293.30 an ounce on the Comex division of the New York Mercantile Exchange. The close was the lowest since March 11.

"A combination of elements this week is adding up to notions of slackening demand for the precious metals markets in the coming weeks and months," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "A rebound in the U.S. dollar index and chart-based sellers entering the futures markets also worked against the metals markets bulls today."

Gold futures ranged from a low of $1,292.90 to a high of $1,313.10. They rose 0.4% on Wednesday — ending at their highest point since March 26, and they climbed 0.5% on Tuesday and on Wednesday.

Silver for May delivery tumbled 37.7 cents to end at $14.867 an ounce. Silver futures traded between $14.845 and $15.215. They rose 0.2% on Wednesday, dipped a half cent on Tuesday, and rose 0.9% on Monday.

In other precious metals futures on Thursday:

  • July platinum lost $13.60 to $895.30 an ounce, ranging from $893.30 to $914.90.

  • Palladium for June delivery declined $30.60, or 2.2%, to $1,332.60 an ounce, trading between $1,324.30 and $1,373.

London Precious Metals Prices

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

  • Gold declined $6.65, or 0.5%, to $1,298.80 an ounce.
  • Silver fell 8.5 cents, or 0.6%, to $15.16 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 February March April 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 0 1,100 0 2,400 4,000 1,100 34,600
$50 American Eagle 1 Oz Gold Coin 0 2,000 500 11,000 8,500 2,500 66,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 1,000 0 17,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 0 4,000 2,000 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 5,000 10,000 15,000 10,000 125,000
$50 American Buffalo 1 Oz Gold Coin 0 3,000 500 6,000 5,500 3,500 38,500
$1 American Eagle 1 Oz Silver Coin 0 550,000 0 2,157,500 850,000 550,000 7,575,000
Lowell 5 Oz Silver Coin 0 0 0 N/A 80,000 0 80,000

 

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