Gold and Silver Log Third Straight Monthly Losses in April; U.S. Mint Gold Eagle Sales Slip

9999 Gold Bars and 22-karat American Gold Eagle Bullion Coins
Gold prices slipped 0.3% in April

Precious metals futures closed mostly higher on Tuesday and they divided on the month. Gold and silver posted losses in April, extending their monthly declines to three in a row.

Gold for June delivery rose $4.20, or 0.3%, to settle at $1,285.70 an ounce on the Comex division of the New York Mercantile Exchange.

"We continue to expect gold prices to consolidate lower, to average $1,285 per ounce in second quarter before recovering to average $1,325 per ounce in the fourth quarter, despite the market once again pricing in a rising probability of a Fed rate cut this year," analysts at Standard Chartered wrote in a note reported by Reuters.

Gold futures ranged from a low of $1,281.50 to a high of $1,288.20. They fell 1% in April after sliding 1.3% in March. The precious metal is 0.3% higher on the year to date.

Silver for July delivery tacked on 5.1 cents, or 0.3%, to settle at $14.984 an ounce. Silver futures traded between $14.83 and $15.04. They declined 0.8% in April after dropping 3.4% in March. Prices are 3.6% lower on the year.

In other precious metals futures prices on Tuesday and in April:

  • July platinum declined $9.60, or 1.1%, to $891.70 an ounce, but rallied 4.4% on the month.

  • Palladium for June delivery bounced $20.70, or 1.5%, to $1,382.70 an ounce, for a 3.1% monthly increase.

Both are higher on the year so far with increases of 11.4% for platinum and 15.5% for palladium.

London Precious Metals Prices

London precious metals prices were mixed for both Tuesday and the month. In comparing their levels from Monday PM to Tuesday PM:

  • Gold rose $2.80, or 0.2%, to $1,282.30 an ounce.
  • Silver added 1.5 cent, or 0.1%, to $14.985 an ounce.
  • Platinum declined $7, or 0.8%, to $889 an ounce.
  • Palladium fell $71, or 4.9%, to $1,366 an ounce.

In LBMA results for April, platinum rose 4.6% while the others logged losses reaching 1% for gold, 0.8% for silver, and 1.7% for palladium.

US Mint 2019 Bullion Sales

United States Mint sales of American Eagle and Buffalo bullion coins mostly improved from March and they remained stronger on the year compared to last year. In headline comparisons:

  • American Eagle gold coins reached 8,500 ounces, falling 26.1% from the 11,500 ounces sold in March but jumping 88.9% from the 4,500 ounces delivered in April 2018. 2019 American Gold Eagle sales at 101,000 ounces are 40.3% higher than the 72,000 ounces delivered during the first four months of last year.

  • American Eagle silver coins climbed by 1,196,000 ounces, marking gains of 40.7% from March’s 850,000 ounces and 30.7% from the April 2018 total of 915,000 ounces. 2019 American Silver Eagle sales at 8,121,000 coins are 35.2% higher than the 6,007,500 coins sold through the same time in 2018.

  • American Buffalo gold coins reached 6,500, registering increases of 18.2% from the 5,500 coins moved in March and 225% from the 2,000 coins sold in April 2018. Year-to-date sales at 41,500 ounces are 40.7% higher than the 29,500 ounces sold during the January to April period of last year.

  • American Platinum Eagles advanced by 6,500 coins, rising 62.5% from the 4,000 coins sold in March. No Platinum Eagles sold in April 2018. Sales for the year so far at 40,000 coins have doubled the amount moved in the first four months of last year.

  • America the Beautiful Five Ounce Silver Bullion Coins were muted after gains of 80,000 coins in March and 30,000 coins in April of last year. 2019 sales at 80,000 coins are higher than the 60,000 coins sold through the same period last year.

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 / This Week Last Week February March April 2019 Sales
$100 American Eagle 1 Oz Platinum Coin 2,600 1,800 2,400 4,000 6,500 40,000
$50 American Eagle 1 Oz Gold Coin 1,000 2,500 11,000 8,500 6,500 70,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 1,000 1,000 19,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 4,000 2,000 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 15,000 15,000 10,000 145,000
$50 American Buffalo 1 Oz Gold Coin 1,500 500 6,000 5,500 6,500 41,500
$1 American Eagle 1 Oz Silver Coin 646,000 0 2,057,500 850,000 1,196,000 8,121,000
Lowell 5 Oz Silver Coin 0 0 N/A 80,000 0 80,000


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Seth Riesling

Mike Unser –

The Platinum American Eagle bullion version coins have sold out now according to Mint officials at 40,000 coins. Also, according to a Mint spokesman, the Lowell 5 oz. silver bullion coin at 80,000 coins is sold out (the mintage for the bullion versions this year is 80,000 top mintage & for the “P” vapor-blast version is 20,000 top mintage). You might want to place an asterisk next to the two bullion version coins that are now sold out for this year. Thanks for the daily reports!