Gold bounced modestly in its April start, reclaiming $1,600 an ounce for the first time in a week.
Though silver has declined for four straight sessions, U.S. Mint American Silver Eagle bullion coins have topped 15 million in sales this year. Never before in the 27-year history of the Silver Eagle series has the milestone been reached so soon.
Gold for June delivery gained $5.20, or 0.3%, to $1,600.90 an ounce on the Comex in New York. Prices traded from an intraday low of $1,595.20 and a high of $1,601.60.
"Gold prices ended the U.S. day session modestly higher Monday. The precious metal was given a boost by a weaker U.S. dollar index," noted Jim Wyckoff of Kitco News. "There was also some fresh safe-haven buying interest in gold Monday as North Korea’s leader continues to make threatening comments toward the U.S. and South Korea."
U.S. markets closed for Good Friday with gold lower $11.50 on Thursday to finish 4.8% lower in the first quarter.
Silver moved opposite of other precious metals. Silver for May delivery shed 37.9 cents, or 1.3%, to $27.944 an ounce. It ranged from $27.81 and $28.36. Silver prices plunged 6.3% in the January to March period.
PGMs notched the biggest gains of the day.
July platinum gained $24.20, or 1.5%, to $1,598.80 an ounce, trading between $1,569.10 and $1,603.70.
- Rising in four of the last five sessions, palladium for June delivery advanced $15.70, or 2.0%, to $783.95 an ounce. The precious metal ranged from $767.50 and $784.80. In the last session on Thursday, palladium dipped by 5 cents.
The two precious metals stood alone with their first quarterly gains as platinum climbed 2.1% and palladium soared 9.2%.
London Bullion Prices
London markets shut down for Good Friday and Easter Monday holiday. The most recent PM fixings changes from Wednesday PM to Thursday PM were:
- Gold lost $4.75, or 0.3%, to $1,598.25 an ounce,
- Silver added 31.0 cents, or 1.1%, to $28.64 an ounce,
- Platinum rose $1.00, or 0.1%, to $1,576.00 an ounce, and
- Palladium gained $10.00, or 1.3%, to $770.00 an ounce
Last quarter in London, platinum advanced 3.5% and palladium jumped 10.2% but gold declined 4.0% and silver fell 4.4%
US Bullion Coin Sales in April
American Eagle bullion coins advanced Monday with sales of Gold Eagles rising 2,000 ounces and Silver Eagles jumping by 812,000.
The 99.9% pure Silver Eagle bullion coins have been consistently advancing at least a million in each week of 2013. The latest gains places its year-to-date sales above 15 million. In 2011 when annual sales reached a record of nearly 40 millions coins, it took the entire first four months to hit sales of 15.248 million. Last year, the Silver Eagles did not reach the 15 million mark until June 8.
The following are April and year-to-date bullion coin totals as reported by the U.S. Mint.
|American Eagle and Buffalo Bullion Coin Sales|
|Monday Sales||Last Week||Week-To-Date / April Sales||YTD Sales|
|$50 American Eagle Gold Coins||1,500||13,500||1,500||248,000|
|$25 American Eagle Gold Coins||0||1,000||0||26,000|
|$10 American Eagle Gold Coins||0||4,000||0||46,000|
|$5 American Eagle Gold Coins||5,000||15,000||5,000||220,000|
|$50 American Buffalo Gold Coins||0||1,000||0||95,000|
|American Silver Eagle Bullion Coins||812,000||918,500||812,000||15,035,000|
All bullion figures above are in the number of coins sold. Calculate total ounces by using the bullion coin’s weight.
U.S. Mint authorized purchasers have claimed all of the available America the Beautiful Five Ounce Silver Bullion Coins. The U.S. Mint has not yet released any of the 2013-dated versions.