Precious metals advanced on Thursday, buoyed by safe-haven demand. Gold extended its winning streak to seven sessions, silver to six and platinum and palladium to two.
Gold for April delivery tacked on $7.80, or 0.7%, to $1,204.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement price is the highest since Feb. 27 when gold ended at $1,213.10 an ounce.
"Between geopolitical fears and an exhausted U.S. dollar, gold is catching a nice little panic room bid as traders fled to safety yesterday, overnight, and into today," MarketWatch quoted Adam Koos, president of Libertas Wealth Management Group.
Gold prices ranged from a low of $1,193.80 to a high of $1,219.50. They have advanced $56.60, or 4.9%, since last ending down on March 17.
Silver for May delivery gained 14 cents, or 0.8%, to close at $17.14 an ounce. Silver prices traded from $16.91 to $17.41. They have surged $1.60, or 10.3%, since last closing lower on March 18.
In PGM futures on Thursday:
April platinum rose $7.50, or 0.7%, to $1,154 an ounce, ranging from $1,141.20 to $1,163.90.
- Palladium for June delivery settled up $7.95, or 1%, to $773.35 an ounce, trading between $762.15 and $779.30.
London Precious Metals Prices
Earlier fixed London precious metals advanced as well. In comparing London bullion prices from Wednesday PM to Thursday PM:
- Gold gained $8.15, or 0.7%, to $1,203.15 an ounce,
- Silver jumped 19 cents, or 1.1%, to $17.13 an ounce,
- Platinum added $8, or 0.7%, to $1,154 an ounce, and
- Palladium rose $11, or 1.4%, to $776 an ounce.
US Mint Bullion Coin Sales in March
United States Mint sales advanced Thursday for one-tenth ounce American Gold Eagles, up 10,000. This listing of U.S. Mint bullion products show the number of coins sold during varying periods.
|US Mint Bullion Sales (# of coins)|
|Thursday Sales||Last Week||Current Week||February Sales||March Sales||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins||0||9,000||3,500||12,500||29,000||93,000|
|$25 American Eagle 1/2 Oz Gold Coins||0||0||0||2,000||4,000||24,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||4,000||2,000||0||8,000||44,000|
|$5 American Eagle 1/10 Oz Gold Coins||10,000||15,000||10,000||50,000||65,000||230,000|
|$50 American Buffalo 1 Oz Gold Coins||0||4,500||500||12,000||8,500||55,000|
|$1 American Eagle 1 Oz Silver Coins||0||637,000||787,000||3,022,000||2,855,000||11,407,000|
|2015 Homestead 5 Oz Silver Coins||0||0||5,300||20,000||13,300||33,300|