Gold Logs First Decline In Five Sessions

by CoinNews.net on February 11, 2020 · 0 comments

Gold Bullion Bars

Gold futures shed 0.6% on Tuesday, Feb. 11

In futures trading Tuesday, gold and silver declined while platinum and palladium gained. Gold’s loss was its first in five sessions.

Gold for April delivery lost $9.40, or 0.6%, to settle at $1,570.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Some upbeat remarks on the U.S. economy by Federal Reserve Chairman Jerome Powell helped to sink the safe-haven metals today," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "And on this day the global marketplace decided to brush off the coronavirus outbreak that continues to spread, which in turn rallied global stock markets, a competing asset class for the precious metals."

Gold futures ranged from a low of $1,565.20 to a high of $1,577.50. They moved ahead 0.4% on Monday.

Silver for March fell 18.8 cents, or 1.1%, to settle at $17.597 an ounce. Silver futures traded between $17.55 and $17.80. They gained 0.5% on Monday.

In other precious metals prices Tuesday:

  • April platinum added $6.60, or 0.7%, to $973.50 an ounce, ranging from $962.60 to $977.

  • Palladium for March delivery rose $15.90, or 0.7%, to $2,265.70 an ounce, trading between $2,215 and $2,272.10. On Wednesday, palladium logged a record close at $2,335.60 an ounce.

London Precious Metals Prices

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

  • Gold declined $2.70, or 0.2%, to $1,570.50 an ounce.
  • Silver shed 8 cents, or 0.5%, to $17.705 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged according to available figures from the Mint’s website. 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)
This Week / February November December 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 8,000 2,000 38,000
$25 American Eagle 1/2 Oz Gold Coin 0 5,000 0 23,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 0 18,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 60,000
$50 American Buffalo 1 Oz Gold Coin 0 5,000 1,500 21,000
$1 American Eagle 1 Oz Silver Coin 0 463,000 0 3,846,000
$1 American Eagle 1 Oz Platinum Coin 0 463,000 0 14,500

 

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