Gold prices closed at a three-week low Thursday, extending a losing streak to four sessions after having notched five-straight gains to end last week at a six-month high.
Gold for April delivery shed $10.80, or 0.8%, to finish at $1,330.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement price was the lowest since gold closed at $1,321.60 an ounce on Feb. 28.
"With the geopolitical crisis easing [in Ukraine] and Yellen delivering an unintended shock to the markets yesterday, the speculators are running away from gold right now," MarketWatch quoted Brien Lundin, editor of Gold Newsletter.
Gold traded from a low of $1,320.80 to a high of $1,335.30. Prices so far this week have declined $48.50, or 3.5%.
Also lower for a fourth consecutive day, silver for May delivery lost 40 cents, or 1.9%, to end at $20.43 an ounce. It ranged from $20.14 to $20.73. Silver prices are off nearly $1 from last Friday.
PGM futures split. In the daily closings:
April platinum turned down $16.90, or 1.2%, to $1,434.80 an ounce, trading between $1,424.20 and $1,454.
- Palladium for June delivery gained $3.45, or 0.5%, to $771.65 an ounce, ranging from $746.30 to $772.70. Palladium’s pick-up was a first since Monday.
London Fix Precious Metals
Earlier fixed London precious metals declined. In contrasting the London fix prices from Wednesday PM to Thursday PM:
- Gold fell $11, or 0.8%, to $1,327 an ounce,
- Silver dropped 58 cents, or 2.8%, to $20.17 an ounce,
- Platinum lost $18, or 1.2%, to $1,436 an ounce, and
- Palladium lost $14, or 1.8%, to $754 an ounce
US Mint Bullion Coin Sales in March
Sales totals for United States Mint bullion coins were unchanged Thursday. Below is a sales breakdown across U.S. Mint bullion products with columns offering the number of bullion coins sold last week, the week-to-date, last month, the month-to-date, and the year-to-date.
|American Eagle and Buffalo Bullion Sales (# of coins)|
|Thursday Sales||Sales Last Week||Week-To-Date Sales||February Sales||March Sales||YTD Sales|
|$100 American Platinum Eagle Bullion Coins||0||8,700||100||N/A||8,800||8,800|
|$50 American Gold Eagle Bullion Coins||0||4,000||3,500||22,000||8,500||93,000|
|$25 American Gold Eagle Bullion Coins||0||2,000||0||3,000||2,000||17,000|
|$10 American Gold Eagle Bullion Coins||0||4,000||0||10,000||4,000||42,000|
|$5 American Gold Eagle Bullion Coins||0||15,000||0||50,000||25,000||235,000|
|$50 American Buffalo Gold Bullion Coins||0||1,500||3,500||12,000||9,000||62,500|
|$1 American Silver Eagle Bullion Coins||0||1,200,000||843,000||3,750,000||3,143,000||11,668,000|
|Great Smoky Mountains National Park 5 Oz Bullion Coins||0||N/A||10,500||N/A||10,500||10,500|