Gold Prices Dip 0.5% in April, Silver Falls 4.5%


Fine Gold BarsGold prices retreated Monday, adding to what turned into a modest 0.5% loss for April but yet an enviable level as compared to the monthly losses of 4.5% for silver and 4.4% for platinum. All precious metals looked up to palladium with its furious 4.3% rally in April.

For comparative purposes, last month was across the board bearish with losses of 2.3% for gold, 6.2% for silver, 2.9% for platinum and 7.7% for palladium.

On the final trading day of April, gold prices for June delivery dipped 60.0 cents, or less than 0.1%, to $1,664.20 an ounce on the Comex in New York. Gold ranged from an intraday low of $1,645.10 to a high of $1,666.50. Gold’s April loss was trimmed by its 1.3% gain last week.

"Gold posted a bullish outside week last week, adding further fuel to our belief that a base is being formed for the next rally higher," Reuters quoted Tom Fitzpatrick, a strategist at Citigroup’s technical research unit CitiFX.

Returning to the other metals and their settlement prices on Monday:

  • Silver prices for July delivery declined 39.5 cents, or 1.3%, to close at $31.016 an ounce. Silver traded between $30.600 and $31.445.

  • Platinum prices for July delivery lost $3.80, or 0.2%, to end at $1,571.90 an ounce, moving from $1,566.30 to $1,578.80.

  • Palladium was not only the outlier for the month, but for the day as well. Palladium prices for June delivery added 85.0 cents, or 0.1%, to settle at $682.35 an ounce, ranging from $675.60 to $685.00.

London Precious Metal

Precious metals in London were mixed on Monday. When comparing the most recent London PM fixings:

  • Gold declined $12.25, or 0.7%, to $1,651.25 an ounce,
  • Silver advanced 6.0 cents, or 0.2%, to $31.20 an ounce,
  • Platinum fell $3.00, or 0.2%, to $1,570.00 an ounce, and
  • Palladium added $2.00, or 0.3%, to $679.00 an ounce

Like metals futures in New York, palladium was the lone gainer for April and at the same 4.3%. Monthly losses included 0.7% for gold, 3.8% for silver and 4.3% for platinum.

U.S. Mint Bullion Coins

Sales of the bullion American Silver Eagle jumped 200,000 on Monday. That lifted its monthly total to 1.52 million and just above what now remains the weakest month of the year, February at 1.49 million. Without Monday’s increase, the Silver Eagle was on track to register its slowest month since July 2008.

The United States reported no other bullion coin sales on Monday. The following are the available daily, April and year-to-date bullion coin sales totals as published by the U.S. Mint. While the figures for April are not likely to change, the bureau has not officially closed the month out. That is expected to occur on Tuesday.

U.S. Mint American Eagle and Buffalo Bullion Coin Sales
  Daily Gains April Gains YTD 2012
American Gold Eagle Coins (1 oz.) 0 19,000 181,000
American Gold Eagle Coins (1/2 oz.) 0 0 51,000
American Gold Eagle Coins (1/4 oz.) 0 2,000 42,000
American Gold Eagle Coins (1/10 oz.) 0 5,000 135,000
American Gold Buffalo Coin (1 oz.) 0 9,000 55,500
American Silver Eagle Coin 200,000 1,520,000 11,659,000


America the Beautiful 5 Oz. Silver Bullion Coin Sales
  Prior Weekly Weekly Gains All-Time Total
Olympic National Park 5 oz. Silver Coins 0 0 85,100
Vicksburg National Military Park 5 oz. Silver Coins 0 0 38,300
Chickasaw Park 5 oz. Silver Coins 0 0 28,900
TOTAL 0 0 152,300


All coin sales in the above tables are in number of coins, not in the amount of ounces sold. The U.S. Mint last updated five ounce bullion silver coins sold on Monday, April 9.

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