Gold Falls from 11-Week High to Log First Loss in Five Sessions

by CoinNews.net on April 12, 2018 · 3 comments

Five gold bullion bars

Gold, silver and palladium futures ended lower Thursday, April 12

Most precious metals futures ended lower Thursday. The loss for gold was its first in five sessions and comes after closing Wednesday at an eleven-week high.

Gold for June delivery declined $18.10, or 1.3%, to settle at $1,341.90 an ounce on the Comex division of the New York Mercantile Exchange.

"For gold this week, the Fed’s promise of more rate hikes beats Trump’s latest threat of airstrikes," MarketWatch quoted Adrian Ash, director of research at BullionVault. "So while prices are testing 5-year resistance, the financial climate remains more important than geopolitics."

Gold futures traded from a low of $1,338.50 to a high of $1,356.70. They rose 1% on Wednesday — ending at their best level since Jan. 25, gained 0.4% on Tuesday, and moved up 0.3% on Monday.

Ending lower for the first time in six sessions, silver for May delivery dropped 29.5 cents, or 1.8%, to settle at $16.473 an ounce. Silver futures ranged from $16.46 to $16.69. They moved up 1% on Wednesday, rose 0.4% on Tuesday, and gained 1% on Monday.

In other precious metals futures:

  • July platinum inched up 50 cents to $934.80 an ounce, trading between $927.50 and $937.30.

  • Palladium for June delivery shed $1.80, or 0.2%, to $959.15 an ounce, ranging from $936.50 to $963.85.

London Precious Metals Prices

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 Thursday. 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 March April 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 0 2,000 2,500 2,000 45,500
$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 0 0 10,000 0 95,000
$50 American Buffalo 1 Oz Gold Coin 0 0 500 1,000 500 29,000
$1 American Eagle 1 Oz Silver Coin 0 210,000 125,000 915,000 335,000 5,427,500
Pictured Rocks 5 Oz Silver Coin 0 0 0 10,000 0 30,000

 

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Gold can take a lesson from the hippies; no matter how high they got, they all knew they had to come down sometime. cool

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-2 = the collective I.Q. of It One and It Two. razz envy

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Joined as if on cue by the Three Stooges.
No, really?