Gold Climbs For Fifth Time in Six Sessions

by CoinNews.net on February 12, 2020 · 0 comments

Partial Photo of Bullion Gold

Gold futures edged up 0.1% on Wednesday, Feb. 12

Precious metals prices mixed it up Wednesday with gold and palladium rising and silver and platinum falling. Gold’s gain was its fifth in six sessions.

Gold for April delivery rose $1.50, or 0.1%, to settle at $1,571.60 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is going to continue to trade range-bound … but the underlying factor that’s supporting gold is the Federal Reserve and the central banks globally, especially when the interest rates have been kept really low," Reuters quoted Ryan McKay, a commodity strategist at TD Securities.

Gold futures ranged from a low of $1,564.40 to a high of $1,573.60. They lost 0.6% on Tuesday and they moved ahead 0.4% on Monday.

Silver for March dropped a dime, or 0.6%, to settle at $17.497 an ounce. Silver futures traded between $17.44 and $17.65. They fell 1.1% on Tuesday and they gained 0.5% on Monday.

In PGM futures on Wednesday:

  • April platinum declined $6.20, or 0.6%, to $967.30 an ounce, ranging from $957.20 to $975.10.

  • Palladium for March delivery gained $56.80, or 2.5%, to $2,322.50 an ounce, trading between $2,241 and $2,327.10. Last 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 Tuesday PM to Wednesday PM:

  • Gold declined $16.80, or 1.1%, to $1,553.70 an ounce.
  • Silver shed 14.5 cents, or 0.8%, to $17.56 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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