Gold Dips Less Than 0.1%, Marking Fresh 16-Week Low

by CoinNews.net on April 17, 2019 · 0 comments

One gold bullion bar and graph

Gold futures declined 40 cents on Wednesday, April 17

Most precious metals gained Wednesday, led by a 3.8% increase in palladium. Gold was by itself with a loss, its third in a row. The precious metal ended at a fresh sixteen-week low.

Gold for June delivery dipped 40 cents, or less than 0.1%, to close at $1,276.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the lowest for a most active contract since the close at $1,273 an ounce on Dec. 26.

"Some short covering in the futures market and some perceived bargain buying in the cash have limited the selling interest in both [silver and gold] markets today," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "However, the gold and silver bulls are still in technical trouble amid price downtrends in place on the daily bar charts."

Gold futures ranged from a low of $1,275.20 to a high of $1,282.10. They dropped 1.1% on Tuesday and declined 0.3% on Monday.

Silver for May delivery rose 2.4 cents, or 0.2%, to settle at $14.939 an ounce. Silver futures traded between $14.88 and $15.06. They fell 0.4% on Tuesday and edged up less than 0.1% on Monday.

In PGM futures on Wednesday:

  • July platinum added $7.10, or 0.8%, to $891.30 an ounce, ranging from $882.20 to $895.30.

  • Palladium for June delivery jumped $50.20 to $1,378.60 an ounce, trading between $1,328.90 and $1,383.30.

London Precious Metals Prices

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

  • Gold declined 50 cents, or less than 0.1%, to $1,275.85 an ounce.
  • Silver rose 5.5 cent, or 0.4%, to $15 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)
Wednesday Last Week This Week February March April 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 0 500 500 2,400 4,000 2,100 35,600
$50 American Eagle 1 Oz Gold Coin 0 1,000 0 11,000 8,500 3,000 67,000
$25 American Eagle 1/2 Oz Gold Coin 0 1,000 0 1,000 1,000 1,000 18,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 0 4,000 2,000 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 0 10,000 15,000 10,000 125,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 500 6,000 5,500 4,500 39,500
$1 American Eagle 1 Oz Silver Coin 0 0 0 2,157,500 850,000 550,000 7,575,000
Lowell 5 Oz Silver Coin 0 0 0 N/A 80,000 0 80,000

 

Leave a Reply

avatar
  
smilegrinwinkmrgreenneutraltwistedarrowshockunamusedcooleviloopsrazzrollcryeeklolmadsadexclamationquestionideahmmbegwhewchucklesillyenvyshutmouth
  Subscribe  
Notify of