Palladium Logs New Record As Silver, Gold and Platinum Decline

by CoinNews.net on February 14, 2019 · 0 comments

Gold Bullion, five bars

Gold prices shed less than 0.1% on Thursday, Feb. 14

Most precious metals fell modestly Thursday. Palladium was the exception, not only gaining 1% but also closing at another record.

Gold for April delivery shed $1.20, or less than 0.1%, to settle at $1,313.90 an ounce on the Comex division of the New York Mercantile Exchange.

"We are not going to have a huge movement in gold until we find what is going on with the potential shutdown in the U.S. and also the meeting with China," Reuters quoted Afshin Nabavi, senior vice president at MKS SA.

Gold futures ranged from a low of $1,304.70 to a high of $1,317.40. They rose less than 0.1% on Wednesday, climbed 0.2% on Tuesday, and lost 0.5% on Monday.

Elsewhere, silver for March delivery declined 12.4 cents, or 0.8%, to close at $15.528 an ounce. Silver futures traded between $15.44 and $15.65. They moved down 0.2% on Wednesday, ended flat on Tuesday, and declined 0.8% on Monday.

In other precious metals futures prices Thursday:

  • April platinum fell $2.60, or 0.3%, to $789.20 an ounce, ranging from $780.90 to $791.40.

  • Palladium for March delivery advanced $13.30, or 1%, to settle at $1,385.90 an ounce, — a fresh record settlement. Palladium prices traded between $1,372.10 and $1,394.20.

London Precious Metals Prices

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

  • Gold dipped $1.35, or 0.1%, to $1,311.45 an ounce.
  • Silver fell 11.5 cents, or 0.7%, to $15.58 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint 2019 Bullion Sales

United States Mint bullion sales picked up by a combined 2,000 ounces in American Eagle and Buffalo gold coins, by 100,000 ounces in American Silver Eagles, and by 400 ounces in American Platinum 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 Last Week This Week January February 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 400 900 400 27,100 1,800 28,900
$50 American Eagle 1 Oz Gold Coin 1,000 3,500 2,000 44,500 6,500 51,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 15,000 1,000 16,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 20,000 0 20,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 5,000 5,000 85,000 10,000 95,000
$50 American Buffalo 1 Oz Gold Coin 500 3,000 2,500 23,500 5,500 29,000
$1 American Eagle 1 Oz Silver Coin 100,000 255,000 775,000 4,017,500 1,060,000 5,077,500

 

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