Gold Inches Lower; Palladium Marks Another Record

by CoinNews.net on February 26, 2019 · 0 comments

Several 999.9 gold bullion bars

Gold prices eased less than 0.1% on Tuesday, Feb. 26

Most precious metals gained Tuesday. Palladium added to its streak of record settlements. Gold was alone for the day with its loss.

Gold for April delivery shed $1, or less than 0.1%, to settle at $1,328.50 an ounce on the Comex division of the New York Mercantile Exchange.

"A dovish monetary policy presentation to the Senate by Federal Reserve Chairman Jerome Powell could not give gold and silver prices any boost," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "The safe-haven metals bulls need a new fundamental news spark, amid the recent upbeat trader and investor attitudes."

Gold futures ranged from a low of $1,325.50 to a high of $1,332.40. They declined 0.3% on Monday. Last Wednesday, they closed at $1,347.90 an ounce for their highest settlement since April 19.

Silver for March delivery edged up less than a half cent to close at $15.832 an ounce. Silver futures traded between $15.74 and $15.89. They fell 0.5% on Monday. Last Wednesday, they ended at $16.177 an ounce for their best settlement since June 29.

In other precious metals futures prices Tuesday:

  • April platinum added $6.80, or 0.8%, to $860.40 an ounce, ranging from $849.20 to $862.50.

  • Palladium for June delivery — the new, most active contract, jumped $25.20, or 1.7%, to $1,519.70 an ounce — a new all-time record. Palladium prices traded between $1,491.60 and $1,525.80.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM

  • Gold declined $6.00, or 0.5%, to $1,325.05 an ounce.
  • Silver lost 12.5 cents, or 0.8%, to $15.83 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 were unchanged. 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)
Tuesday Last Week This Week January February 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 27,100 1,800 28,900
$50 American Eagle 1 Oz Gold Coin 0 3,000 500 44,500 10,000 54,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 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 0 5,000 0 85,000 10,000 100,000
$50 American Buffalo 1 Oz Gold Coin 0 0 500 23,500 6,000 29,500
$1 American Eagle 1 Oz Silver Coin 0 997,500 100,000 4,017,500 2,157,500 6,175,000

 

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