Gold Climbs 0.2% on Wednesday, April 4

by CoinNews.net on April 4, 2018 · 12 comments

Large silver bullion bar, smaller gold bar and nugget

Gold rose Wednesday, April 4, but most precious metals ended lower

Most precious metals futures declined in the mid-week trading session Wednesday. Gold was the exception, logging a modest 0.2% increase.

Gold for June delivery climbed $2.90 to settle at $1,340.20 an ounce on the Comex division of the New York Mercantile Exchange.

"Political (trade war) factors are offsetting the negative factors (for gold) of a generally improving U.S. and global economy," Reuters quoted Matthew Turner, commodities strategist at Macquarie. "We think gold is heading upwards largely because we have a weaker dollar view, but we think the range is going to hold for a while."

Gold futures traded from a low of $1,335.20 to a high of $1,352.50. They declined 0.7% on Tuesday and advanced 1.5% on Monday.

Silver for May delivery lost 13.8 cents, or 0.8%, to end at $16.254 an ounce. Silver futures ranged from $16.22 to $16.52. The dropped 1.7% on Tuesday and surged 2.5% on Monday.

In PGM futures on Wednesday:

  • July platinum declined $13.20, or 1.4%, to $918.10 an ounce, trading between $918.10 and $930.30.

  • Palladium for June delivery fell $9.90, or 1.1%, to $917.90 an ounce, ranging from $910 to $929.15.

LBMA bullion prices are available on the LBMA website with a delay of midnight.

US Mint Bullion Sales in 2018

United States Mint bullion sales were unchanged as of 3:27 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)
Wednesday Last Week March This Week / April 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 0 2,500 0 43,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 0 16,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 10,000 0 95,000
$50 American Buffalo 1 Oz Gold Coin 0 0 1,000 0 28,500
$1 American Eagle 1 Oz Silver Coin 0 285,000 915,000 210,000 5,302,500
Pictured Rocks 5 Oz Silver Coin 0 10,000 10,000 0 30,000

 

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12 Comments on "Gold Climbs 0.2% on Wednesday, April 4"

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Old+Collector
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Old+Collector

Gold up. Gold down. Gold up. Gold down. Does anybody else see a pattern here? grin

Old+Collector
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Old+Collector

No, I’m not talking to the -2 idiots. razz

Joe+Brown
Guest

Hows *Rhodium doing now ah days? I* don’t sea much being said for some time now, History today is written much faster, & people want to know sooner than later! 1 once of *Rhodium in the dark days of 2008 went for $10,000, has *China con the market on it? Can that $10,000 mark happen again? Seems to be keeping a low profile for some reason! *i for 1, did not care about *Palladium back in 2009 was going for $221. & there was talk of an *American *palladium coin, & the written was*on the wall for us all to *sea, but most didn’t read the written, although there’s no talk of a first *American *Rhodium coin, is something else going on that we should know about *Rhodium! Do someones have tie*t lips! shutmouth

Mouse
Guest

Rhodium is a tricky element for investment. International political manipulation exists. South Africa and Russia are the two main players. Great element to have a few coins but for large – long term investment / the investor needs to be savvy and in-tune with international politics / ready to buy and sell in a heart beat.

Old+Collector
Guest
Old+Collector

That may well be the case, but what a precious metal like rhodium will always have going for it is its authentic scarcity and resultant rarity (or vice versa, if you will), while a substance like diamonds, that is essentially, except for indicated industrial uses, intrinsically worthless, simply being the resultant product of one of the biggest long cons and most consummately clever of all the scams in modern economic history. eek

Old+Collector
Guest
Old+Collector

Joe Brown,
Just checked, and rhodium is going for $2040 or so and ounce. Not anywhere near the old $10,000 mark, but still appreciably more expensive than gold. This is the kind of super-costly precious metal that 1/20 ounce coins would be most appropriate for. As an afterthought and/or footnote, if coins get much smaller than even that example, then before long even powerful magnifying glasses may just have to be traded in for electron microscopes!

Mouse
Guest

Well stated. Rhodium coins are a quick sell out / mostly used for plating. It’s industrial use still exists in-conjunction with platinum. When it comes to coinage, I view it as a specialty element – great investment as the coins are scarce / large investment bars have no security and can plummet in price / in a heart beat.

Old+Collector
Guest
Old+Collector

Mouse,
According to all that I’ve gleaned from innumerable sources regarding this very subject, it appears that it would be rather difficult to go wrong in consistently sticking to the smaller denominations when it comes to accumulating precious metal coins, and whether that’s collector or bullion-grade makes no difference. They will always be much easier to move in general, and certainly more immediately useful if it comes to a real pinch.

Mouse
Guest

I am with you on that. I am a fan of fractional coinage / only purchase large 100 ounce silver bars for a quick profit. Fractional precious metal coins are a good buy – even with a slightly higher premium. Easy to liquidate / better control of how much money is required on resale / and they don’t break the bank on purchase.

Old+Collector
Guest
Old+Collector

Mouse,
If you look back up you’ll see that every single comment in this thread has rung up a consistently perfect “- 1”; clearly we must be doing something right. cool

Mouse
Guest

lol that we are Old Collector, We have a coward internet troll around lol these plus minus buttons on this site are a joke. They mean nothing to me lol

Old+Collector
Guest
Old+Collector

To celebrate coin collecting in general and the arrival of spring in particular I have just gone about gifting each and every comment (posted by everyone but myself, of course) on as many threads as I could possibly manage with a resounding “+”, precisely because (a) I truly do appreciate all of you and what you all do to contribute to this wonderful site and (b) I wanted to at least do my own small part to help offset the ongoing obsessive troll attacks with a little thumbs-up magic. Happy collecting, everyone!