Gold extended its winning streak to four sessions Tuesday. Gold futures for April delivery tacked on $13.70, or 0.9%, to $1,591.70 an ounce on the Comex in New York.
Gold’s settlement price was the highest since Feb. 27. The precious metal closed nearer its intraday high of $1,597.60 than its low of $1,578.80.
According to Bloomberg, the four-session streak is the longest rally for gold since Aug. 21. Since Wednesday, the yellow metal has added $16.80, or 1.1%, with the biggest chunk of gains on Tuesday.
Advancing in seven of the last eight sessions, silver for May delivery gained 31.8 cents, or 1.1%, to close at $29.171 an ounce. The white metal traded between $28.87 and $29.35.
"Silver rose as copper and gold prices both rose," MarketWatch quoted Chintan Karnani, independent bullion analyst in New Delhi.. "For silver to rise, both copper and gold prices need to rise. Silver will move on its own once silver trades over $29.90."
On Monday, silver dipped 9.5 cents for its first loss since Feb. 28.
In PGM futures prices Tuesday:
April platinum shed $6.20, or 0.4%, to $1,595.00 an ounce, ranging from $1,590.20 and $1,615.00.
- Palladium for June delivery declined $3.70, or 0.5%, to $775.500 an ounce, trading between $769.50 and $781.90.
London Precious Metals
Precious metals in London rose, except for palladium which remained unchanged. In contrasting the Monday PM to Tuesday PM London Fix prices:
- Gold added $15.00, or 0.9%, to $1,594.00 an ounce,
- Silver gained 35.0 cents, or 1.2%, to $29.25 an ounce,
- Platinum rose $10.00, or 0.6%, to $1,604.00 an ounce, and
- Palladium stayed at $774.00 an ounce
US Bullion Coin Sales in March
The American Eagle silver bullion coin was the single U.S. Mint bullion product to rise Tuesday with sales of 39,000. On Monday, the Silver Eagles for the year topped 12 million in sales, a milestone never before seen so soon. Current U.S. Mint bullion coin sales follow.
|American Eagle and Buffalo Bullion Coin Sales|
|Tuesday Sales||Last Week||Week-To-Date Sales||March Sales||YTD Sales|
|$50 American Eagle Gold Bullion Coins||0||18,000||500||22,500||215,000|
|$25 American Eagle Gold Bullion Coins||0||2,000||0||2,000||24,000|
|$10 American Eagle Gold Bullion Coins||0||4,000||0||4,000||40,000|
|$5 American Eagle Gold Bullion Coins||0||10,000||5,000||15,000||195,000|
|$50 American Buffalo Gold Bullion Coins||0||5,500||0||5,500||89,500|
|American Silver Eagle Bullion Coins||39,000||897,000||704,500||1,601,500||12,468,000|
|America the Beautiful 5 Oz. Silver Bullion Coin Sales|
|Tuesday Sales||Last Week||Week-To-Date Sales||March Sales||All-Time Sales|
|2012 El Yunque National Forest 5 oz. Silver Bullion Coins||Sold Out||0||24,000|
|2012 Chaco Culture National Historical Park 5 oz. Silver Bullion Coins||600||24,400|
|2012 Acadia National Park 5 oz. Silver Bullion Coins||0||25,400|
|2012 Hawai’i Volcanoes 5 oz. Silver Bullion Coins||0||20,000|
|2012 Denali National Park 5 oz. Silver Bullion Coins||0||20,000|
|2011 Olympic National Park 5 oz. Silver Bullion Coins||0||0||0||0||104,900|
|2011 Vicksburg National Military Park 5 oz. Silver Bullion Coins||0||0||0||10,400||58,100|
|2011 Chickasaw Park 5 oz. Silver Bullion Coins||0||0||0||8,800||48,700|
All bullion figures above are in the number of coins sold. Calculate total ounces by using the bullion coin’s weight.