Gold and Silver Prices Rise Wednesday, April 24

by CoinNews.net on April 24, 2019 · 0 comments

Bullion Gold Bars, Three

Gold prices rose 0.5% on Wednesday, April 24

Aside from platinum, precious metals futures advanced Wednesday. Gains ranged from 0.5% for gold to 2.1% for palladium. On Tuesday, gold ended at an almost four-month low. The yellow metal has been yo-yoing from modest losses to modest gains for nearly a week now.

Gold for June delivery rose $6.20 to settle at $1,279.40 an ounce on the Comex division of the New York Mercantile Exchange.

"With the dollar churning higher and rates holding the most-recent rebound (back to the pre-March Fed meeting levels), the bullish case for gold has weakened significantly," MarketWatch quoted analysts at Sevens Report Research.

"Near term, further declines can be expected as the [fourth quarter 2018] rally unwinds. But on a longer time frame, nothing has changed as gold has been pinned in a trading range between roughly $1,150 and $1,350 since 2016."

Gold futures ranged from a low of $1,270.50 to a high of $1,280.70. They fell 0.3% on Tuesday — ending at their lowest price since Dec. 26, and they edged up 0.1% on Monday.

Silver for May delivery added 12.5 cents, or 0.9%, to settle at $14.916 an ounce. Silver futures traded between $14.74 and $14.96. They dropped 1.2% on Tuesday and gave back 0.1% on Monday.

In PGM futures on Wednesday:

  • July platinum declined $5.20, or 0.6%, to $888.60 an ounce, ranging from $887 to $897.90.

  • Palladium for June delivery jumped $29.50 to $1,405.10 an ounce, trading between $1,370.50 and $1,409.50.

London Precious Metals Prices

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

  • Gold rose $2.15, or 0.2%, to $1,271.65 an ounce.
  • Silver declined 17 cent, or 1.1%, to $14.805 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 advanced by 900 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)
Wednesday Last Week This Week February March April 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 900 500 900 2,400 4,000 3,000 36,500
$50 American Eagle 1 Oz Gold Coin 0 0 2,500 11,000 8,500 5,500 69,500*
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 1,000 1,000 19,000
$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 0 0 15,000 15,000 10,000 130,000
$50 American Buffalo 1 Oz Gold Coin 0 500 0 6,000 5,500 4,500 39,500
$1 American Eagle 1 Oz Silver Coin 0 0 0 2,057,500 850,000 550,000 7,475,000
Lowell 5 Oz Silver Coin 0 0 0 N/A 80,000 0 80,000

 

*The U.S. Mint trimmed April’s total by 1,500 coins bringing the week-to-date total down to 2,500 coins and the year-to-date total down to 69,500 coins.

 

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