Gold ended lower Tuesday, slipping from a seven-week high as the U.S. dollar gained sharply.
Gold for June delivery shed $8, or 0.7%, to settle at $1,210.60 an ounce on the Comex division of the New York Mercantile Exchange.
"Bulls are frustrated yet again to see rallies fade … momentum buying is mostly seen as an opportunity to sell into," Reuters quoted bullion broker Sharps Pixley Chief Executive Ross Norman.
Gold prices ranged from a low of $1,207.50 to a high of $1,215.90. In the prior session, they surged 1.5% and reached their highest point since Feb. 17.
Silver for May delivery fell 27 cents, or 1.6%, to end at $16.84 an ounce. Silver prices traded between $16.73 and $16.98. They rallied on Monday by 2.5%.
In rounding out the precious metals complex:
July platinum lost $6.50, or 0.6%, to $1,173.90 an ounce, ranging from $1,164.70 to $1,178.
- Palladium for June delivery edged up 20 cents to $769 an ounce, trading between $764.65 and $777.45.
London Precious Metals Prices
London markets shut down for Good Friday and Easter Monday holiday. In comparing London bullion prices from Thursday PM to Tuesday PM:
- Gold gained $12.50, or 1%, to $1,211 an ounce,
- Silver added 2 cents, or 0.1%, to $16.86 an ounce,
- Platinum jumped $25, or 2.2%, to $1,167 an ounce, and
- Palladium moved up $24, or 3.2%, to $775 an ounce.
US Mint Bullion Coin Sales in April
United States Mint bullion sales ticked higher for gold and silver coins. The agency’s smallest American Gold Eagle turned up 10,000 and its popular American Silver Eagle advanced by 149,500.
This listing of U.S. Mint bullion products show the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Tuesday Sales||Last Week||Current Week||March Sales||April Sales||YTD Sales|
|$50 American Eagle 1 Oz Gold Coins||0||6,000||0||35,000||0||99,000|
|$25 American Eagle 1/2 Oz Gold Coins||0||2,000||0||5,000||1,000||26,000|
|$10 American Eagle 1/4 Oz Gold Coins||0||0||0||8,000||0||44,000|
|$5 American Eagle 1/10 Oz Gold Coins||10,000||5,000||10,000||70,000||10,000||245,000|
|$50 American Buffalo 1 Oz Gold Coins||0||2,500||0||9,500||1,500||57,500|
|$1 American Eagle 1 Oz Silver Coins||149,500||675,500||711,000||3,519,000||783,000||12,854,000|
|2015 Homestead 5 Oz Silver Coins*||–||1,000||–||15,000||–||35,000|