Gold Ends at Two-Week Low, Silver Slips 0.7%

by CoinNews.net on March 15, 2018 · 5 comments

Gold Bullion

Gold futures finished at their lowest level since March 1

Precious metals futures finished lower for a second day in row Thursday, with losses ranging from 0.4% for palladium to 0.7% for silver.

Gold for April delivery declined $7.80, or 0.6%, to settle at $1,317.80 an ounce on the Comex division of the New York Mercantile Exchange. The close is the lowest since March 1.

"The headwinds gold faces are people starting to talk about the interest rate increase and the possibility of a fourth interest rate hike," Reuters quoted Chris Gaffney, president of world markets at EverBank.

Gold futures traded from a low of $1,315.50 to a high of $1,328.10. They dipped 0.1% on Wednesday, advanced 0.5% on Tuesday, and slipped 0.2% on Monday.

Silver for May delivery fell 11.5 cents to settle at $16.422 an ounce. Silver futures ranged from $16.37 to $16.58. They declined 0.5% on Wednesday, gained 0.6% on Tuesday, and lost 0.4% on Monday.

In rounding out precious metals futures dealings:

  • April platinum shed $4.60, or 0.5%, to $956.90 an ounce, trading between $953.80 and $965.80.

  • Palladium for June delivery fell $3.75 to $981 an ounce, ranging from $976 to $989.65.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold declined $4.80, or 0.4%, to $1,318.75 an ounce.
  • Silver fell 8.5 cents, or 0.5, to $16.52 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 were unchanged as of 3:50 p.m. ET. 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)
Thursday 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 0 165,000 270,000 942,500 435,000 4,612,500
Pictured Rocks 5 Oz Silver Coin 0 0 0 20,000 0 20,000

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Old Collector

Do precious metals HAVE a future?

Mouse
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Mouse

lol Old Collector, that they do my friend. Wealth protection is a long term thing…wish it wasn’t lol

Silver is the only element that has shown fast profit, next to palladium. I still feel palladium is gonna tank, had its 30 year spike, hope those that owned it cashed in when it almost reached the same price as gold late last year.

Mouse

Old Collector
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Old Collector

Mouse,

Oh, I know you’re right, I just couldn’t help that. smile

Old Collector (& Wealth Protector?)

Joe Brown
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Joe Brown

Gut! funny*feeling it will be the future*! Save* your lose change*.

Old Collector
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Old Collector

Joe Brown,

It just occurred to me that the phrase “loose change” would in most instances be an oxymoron, because once the coins are in your pocket they are in fact “contained.” smile

Old Collector