Gold Logs New 5-Week Low

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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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