Gold Prices at 16-Week Low

by CoinNews.net on April 16, 2019 · 0 comments

Partial Photo of Bullion Gold

Gold futures settled Tuesday, April 16, at their lowest price since Dec. 26

Precious metals futures fell Tuesday, posting losses ranging from 0.4% for silver to 1.2% for platinum. Gold finished at its lowest price in sixteen week.

Gold for June delivery dropped $14.10, or 1.1%, to end at $1,277.20 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest for a most active contract since the close at $1,273 an ounce on Dec. 26.

"Gold came for sale on heavy volumes at the open this morning, breaking down through key support in the mid-$1,280s thanks to broad, risk-on money flows and more specifically, rebounding interest rates," MarketWatch quoted Tyler Richey, co-editor of the Sevens Report.

Gold futures ranged from a low of $1,275.50 to a high of $1,291.70. They declined 0.3% on Monday.

Silver for May delivery shed 6 cents to settle at $14.915 an ounce. Silver futures traded between $14.83 and $14.94. They edged up less than 0.1% on Monday.

In other major precious metals futures Tuesday:

  • July platinum fell $10.30 to $884.20 an ounce, ranging from $880.60 to $896.60.

  • Palladium for June delivery declined $6.30, or 0.5%, to $1,328.40 an ounce, trading between $1,325.70 and $1,347.80.

London Precious Metals Prices

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

  • Gold fell $9.30, or 0.7%, to $1,276.35 an ounce.
  • Silver rose 1 cent, or less than 0.1%, to $14.945 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 registered increases of 500 ounces in American Gold Buffalos and 500 onces in American Platinum 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 February March April 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 500 500 2,400 4,000 2,100 35,600
$50 American Eagle 1 Oz Gold Coin 0 1,000 11,000 8,500 3,000 67,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 1,000 1,000 1,000 18,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 4,000 2,000 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 10,000 15,000 10,000 125,000
$50 American Buffalo 1 Oz Gold Coin 500 1,000 6,000 5,500 4,500 39,500
$1 American Eagle 1 Oz Silver Coin 0 0 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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