Precious Metals Move Modestly Ahead on Week

by CoinNews.net on March 13, 2018 · 12 comments

9999 Gold Bullion

Precious metals futures are slightly higher on the week to date with gains of 0.2% for gold, 0.1% for silver, 0.3% for platinum and 0.5% for palladium

Precious metals futures advanced Tuesday, moving slightly ahead for the week after posting losses on Monday.

Gold for April delivery gained $6.30, or 0.5%, to settle at $1,327.10 an ounce on the Comex division of the New York Mercantile Exchange.

"The key economic data point of the day Tuesday saw the U.S. consumer price index report for February come in at up 0.2%, and up 2.2%, year-on-year," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The metals markets were supported on the news because the inflation data was not deemed “too hot."

For a third straight month, core inflation on an annual basis grew 1.8%.

Gold futures traded from a low of $1,313.80 to a high of $1,328.80. They shed 0.2% on Monday.

Silver for May delivery settled up 9.1 cents, or 0.6%, to $16.627 an ounce. Silver futures ranged from $16.46 to $16.69. They lost 0.4% in the previous session.

In other precious metals futures prices:

  • April platinum rose $4.40, or 0.5%, to $967.30 an ounce, trading between $961.90 and $972.90.

  • Palladium for June delivery surged $23.95, or 2.5%, to $991.60 an ounce, ranging from $971.05 to $993.35.

London Precious Metals Prices

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

  • Gold rose $3.60, or 0.3%, to $1,322.75 an ounce.
  • Silver added 5.5 cents, or 0.3, to $16.51 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

U.S. Mint bullion sales advanced by 145,000 ounces in American Silver Eagles. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Tuesday Last Week This Week February March 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 20,000 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 2,500 0 5,000 2,500 43,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 0 0 16,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 0 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 10,000 0 5,000 10,000 95,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 0 2,500 1,000 27,500
$1 American Eagle 1 Oz Silver Coin 145,000 165,000 270,000 942,500 435,000 4,612,500
Pictured Rocks 5 Oz Silver Coin 0 0 0 20,000 0 20,000

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sam tweedyJoe BrownJoe BrownOld Collector Recent comment authors
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Old Collector

Looks like our precious (precocious?) metals are headed in an upward direction again…until tomorrow.

Joe Brown
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They say! More*now than ever*before! Trumps*presidency! IS* in >chaosnotdiscordopec*leaders< "Saudi-Arabia & Iran" it! Put *crude*oil market* on defense! *?, What! Does this all mean to us*all! It*s anyone's guess*, if u* want too answer? Ho!Hum! shall*we*just*Wait! & SEA*.

Joe Brown
Guest
Joe Brown

They say! More*now than ever*before! Trumps*presidency! IS* in >chaosnotdiscordopec*leaders< "Saudi-Arabia & Iran" it! Put *crude*oil market* on defense! *?, What! Does this all mean to us*all! It*s anyone's guess*, if u* want too answer? Ho!Hum! shall*we*just*Wait! & SEA*.

Joe Brown
Guest
Joe Brown

They say! More*now than ever*before! Trumps*presidency! IS* in >chaosnotdiscordopec*leaders< "Saudi-Arabia & Iran" it! Put *crude*oil market* on defense! *?, What! Does this all mean to us*all! It*s anyone's guess*, if u* want too answer? Ho!Hum! shall*we*just*Wait! & SEA*, soon! May*be, sooner than later.*smile

Joe Brown
Guest
Joe Brown

it figures! that,s a real bad miss*mash, of what i* really said! I* don*t know why! or How! all my words came out that way! This Dam! >machinePOP< ! I*m just too tie*rd! Time to watch what*s showing on the inside of my* i* lids*, that was a waste of my* dam*blankit*tea*blank*time, sorry about that *nut i* say! this show better b* good*! good*morning& good night to me*,*sweet*dreams*please!

Old Collector
Guest
Old Collector

Joe Brown,

There is an old, oft-repeated saying which states that the Chinese symbol for chaos also represents opportunity. That being said, opportunity as such is not to be construed as being automatically positive nor negative, but rather neutral. Hitler, after all, seized his moment of opportunity from the chaos of post-WWI Germany, and we know how that turned out.

Old Collector & (History Reflector)

Joe Brown
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Joe Brown

Old Collector – there were a couple of *good opportunity*s, and still are ever sent’s: The Donald took office, if only the avg*joe with a few extra $Buck$ in his or hers top*draw knew any*better, it’s there for the making! Stocks for one, & cheap*silver, and if i* came across my*, snow*, i*mean! Glass*Ball, *palladium was a *big*score! I* like to know who was in*on that *deal of the year, don’t tell me* it just happen*d! & i* don’t remember any of the *gu*roo*s, ”’but there might have been 1 or 2 who might of hinted!”’ But i*m not *god! I* can’t, here & *sea every dam thing! BUT!!! what poor slob* out there saw that coming! Go figure, cut the crap*even, will ya! *I am very*happy for the smart*poor*slob, who hit the # with*palladium. U*ALL, must know by now, the wealth*y were all lined up at the stating gate,… Read more »

Old Collector
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Old Collector

Joe Brown,

Lots of right-on-the-money points there, brother, what with bringing up all the usual suspects aka the Richie Very Riches gleefully collecting their Manna From Heaven in Tandem Brinks/WellsFargo 18 Wheelers and still having to look for acres more storage space (might even have to empty some of those Olympic size backyard pools for the cash overflow), and I especially loved the part about the Little Donnie Juniors sucking up bigtime six ways from Sunday to their Best Prez Ever Orange Daddy-O (just like Sandy or Candy or Swarmy or whatever her name is did) and everybody but the most and the rest of us gets to go home all fat, dumb ‘n happy. P.S.- The sentences that run together stay together.

Old Collector

sam tweedy
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sam tweedy

ZZZZZZZZZZZ!!!!!!

Old Collector
Guest
Old Collector

Joe Brown,

I’m beginning to understand that within the realm of possibility there exists a twist on the idealized version of the Great American Dream in which the streets are all paved with palladium instead of gold.

Old Collector

Joe Brown
Guest
Joe Brown

Old Collector* – you*ll only sea*, *palladium, *platinum, & *gold streets in *7th Heaven,*smile.

Old Collector
Guest
Old Collector

Joe Brown,

A most precious vision indeed! smile

Old Collector