Gold dropped to an almost four-month low Tuesday as the U.S. dollar rallied to its highest level since 2003. The loss marks a sixth in seven sessions.
Gold for April delivery declined $6.40, or 0.5%, to close at $1,160.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement price is the lowest since gold finished at $1,159.10 an ounce on Nov. 12.
"Sentiment has been lousy for gold," MarketWatch quoted Brien Lundin, editor of Gold Newsletter. But "from a contrarian point of view, [that] probably makes gold and gold stocks an outstanding opportunity."
Gold traded from a low of $1,153.80 to a high of $1,169.60. Prices have slipped 2% on the year.
Silver for May delivery fell 14 cents, or 0.9%, to settle at $15.63 an ounce. Prices ranged from $15.58 to 15.83. Silver has ended flat or lower for eight straight sessions.
In PGM futures on Tuesday:
-
April platinum declined $18.60, or 1.6%, to $1,130 an ounce, trading between $1,129 and $1,151.60.
- Palladium tumbled $18.85, or 2.3%, to $804.10 an ounce, ranging from $801 to $824.75.
London Fix Precious Metals
Earlier fixed London precious metals declined as well. In comparing London bullion Fix prices from Monday PM to Tuesday PM:
- Gold shed $6.50, or 0.6%, to $1,162 an ounce,
- Silver declined 14 cents, or 0.9%, to $15.78 an ounce,
- Platinum fell $13, or 1.1%, to $1,139 an ounce, and
- Palladium dropped $15, or 1.8%, to $808 an ounce.
US Mint Bullion Coin Sales in March
United States Mint bullion sales were unchanged Tuesday as of 2:50 PM ET. Below are U.S. Mint bullion products with columns listing the number of bullion coins sold during varying time periods.
| US Mint Bullion Sales (# of coins) | ||||||
|---|---|---|---|---|---|---|
| Tuesday Sales | Last Week | Current Week | February Sales | March Sales | YTD Sales | |
| $50 American Eagle 1 Oz Gold Coins | 0 | 2,500 | 6,000 | 12,500 | 8,500 | 72,500 |
| $25 American Eagle 1/2 Oz Gold Coins | 0 | 3,000 | 0 | 2,000 | 3,000 | 23,000 |
| $10 American Eagle 1/4 Oz Gold Coins | 0 | 2,000 | 0 | 0 | 2,000 | 38,000 |
| $5 American Eagle 1/10 Oz Gold Coins | 0 | 20,000 | 0 | 50,000 | 20,000 | 185,000 |
| $50 American Buffalo 1 Oz Gold Coins | 0 | 1,500 | 1,500 | 12,000 | 3,000 | 49,500 |
| $1 American Eagle 1 Oz Silver Coins | 0 | 587,000 | 482,500 | 3,022,000 | 1,069,500 | 9,621,500 |
| 2015 Homestead 5 Oz Silver Coins | 0 | 0 | 7,200 | 20,000 | 7,200 | 27,200 |
I got burn on Silver eagle and Atb 5 oz silver, what should I do,
I lost more than 50%+ on investing value, since 2010 ATB 1st issue
Ilovesilver,
Think long term at this point.
Those early collectors edition 5oz ATBs I would love to get, but are very expensive.