Gold prices finished at their worst level in about six weeks Tuesday, extending their losses to seven consecutive sessions.
Gold for April delivery shed $2.80, or 0.2%, to settle at $1,284.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest since Jan. 24.
"With the U.S.-China trade agreement looking like it will happen and the softening of Brexit negotiations seeming to be developing into a positive thing, people are getting out of metals and converting it to equities," Reuters quoted Walter Pehowich, executive vice president of investment services at Dillon Gage Metals.
"If there is a (trade) agreement, there is a lot more room on the upside for equities and then the bull run in gold is over."
Gold futures ranged from a low of $1,282 to a high of $1,290.60. They declined 0.9% on Monday.
Elsewhere, silver for May delivery was unchanged at $15.105 an ounce. The settlement was the lowest since Dec. 24. Silver futures traded between $15.06 and $15.18. They declined 1% on Monday.
In other precious metals futures dealings:
April platinum slipped 90 cents, or 0.1%, to $838 an ounce, ranging from $835 to $843.10.
- Palladium for June delivery fell $19.20, or 1.3%, to $1,465.90 an ounce, trading between $1,460 and $1,493. Last Tuesday, the precious metal marked a record settlement of $1,519.70 an ounce.
London Precious Metals Prices
In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM
- Gold declined $1.60, or 0.1%, to $1,283.80 an ounce.
- Silver fell 5 cents, or 0.3%, to $15.11 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||January||February||March / This Week||2019 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||600||27,100||2,400||0||29,500|
|$50 American Eagle 1 Oz Gold Coin||0||1,500||44,500||11,000||1,500||57,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||15,000||1,000||0||16,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||20,000||0||0||20,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||85,000||10,000||0||100,000|
|$50 American Buffalo 1 Oz Gold Coin||0||500||23,500||6,000||500||30,000|
|$1 American Eagle 1 Oz Silver Coin||0||100,000||4,017,500||2,157,500||0||6,175,000|