Gold Logs New 5-Week Low

by CoinNews.net on April 26, 2018 · 0 comments

999.9 Fine Gold Bullion

Gold finished at its lowest level since March 20

In precious metals futures on Thursday, palladium stood alone with gains while gold, silver and platinum declined for a second straight session. Gold ended at a new, five-week low.

Gold for June delivery shed $4.90, or 0.4%, to settle at $1,317.90 an ounce on the Comex division of the New York Mercantile Exchange. The close is the weakest since March 20.

"What gold is looking for is a new consolidation range after the quick move back to the downside in the absence of safe-haven buying we saw earlier in April," MarketWatch quoted Jeff Wright, executive vice president at Gold Mining Inc.

Gold futures ranged from a low of $1,316.20 to a high of $1,328. They lost 0.8% on Wednesday, advanced 0.7% on Tuesday, and dropped 1.1% in starting the trading week on Monday.

Silver for May delivery dipped 1.1 cents, or less than 0.1%, to settle at $16.491 an ounce. Silver futures traded between $16.38 and $16.58. They fell 1.2% on Wednesday, rose 0.7% on Tuesday, and sank 3.4% on Monday

In other precious metals futures on Thursday:

  • July platinum fell $2.60, or 0.3%, to $910.10 an ounce, ranging from $907.80 to $919.40.

  • Palladium for June delivery added $11.55, or 1.2%, to $979.05 an ounce, trading between $960.45 and $987.60.

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 climbed for the first time this week with a modest 25,000 increase 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)
Thursday / This Week Last Week March April 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 500 2,500 2,500 46,000
$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 0 500 1,000 1,000 29,500
$1 American Eagle 1 Oz Silver Coin 25,000 275,000 915,000 635,000 5,727,500
Pictured Rocks 5 Oz Silver Coin 0 0 10,000 0 30,000
Apostle Islands 5 Oz Silver Coin 0 30,000 N/A 30,000 30,000

 

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