Precious Metals Decline For Third Session

by CoinNews.net on January 30, 2018 · 0 comments

Two Gold Bullion Bars

Gold and silver each declined 0.4% on Tuesday, Jan. 30

Precious metals futures declined for a third straight session Tuesday, led by palladium which dropped 2.9%. Both silver and gold shed 0.4%.

Gold for April delivery — the now most active contract — declined $5.10 to settle at $1,340 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is still in the same positive trend it has been in since December, but seeing as tomorrow is the Federal Reserve update, traders may not be too keen to stay long going into the meeting," MarketWatch quoted David Madden, market analyst at CMC Markets.

Gold futures traded from a low of $1,337.50 to a high of $1,352.50. They fell 0.9% on Monday.

Silver for March delivery gave back 6.9 cents to end at $17.058 an ounce. Silver futures ranged from $17.04 to $17.31. They dropped 1.8% on Monday.

In rounding out precious metals futures dealings:

  • April platinum fell $10.90, or 1.1%, to $1,001.80 an ounce, trading between $995.20 and $1,012.60.

  • Palladium for March delivery sank $30.95 to $1,052.45 an ounce, ranging from $1,045 to $1,086.60.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:

  • Gold rose $1.05, or less than 0.1%, to $1,347.90 an ounce.
  • Silver declined 4 cents, or 0.2%, to $17.295 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint Bullion Sales in 2018

United States Mint bullion sales were unchanged. Below is a sales breakdown of U.S. bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Tuesday Last Week This Week December 2017 Sales 2018 Sales
$50 American Eagle 1 Oz Gold Coin 0 4,500 0 38,000 228,500 35,000
$25 American Eagle 1/2 Oz Gold Coin 0 2,000 0 3,000 37,000 16,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 4,000 64,000 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 0 25,000 395,000 75,000
$50 American Buffalo 1 Oz Gold Coin 0 2,500 0 14,000 99,500 23,500
$1 American Eagle 1 Oz Silver Coin 0 325,000 100,000 742,000 18,065,500 3,195,000

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