Gold Prices Climb 0.5%; Palladium Posts New Record

by CoinNews.net on February 13, 2020 · 0 comments

Gold bullion

Gold prices rose 0.5% on Thursday, Feb. 13

Precious metals moved higher Thursday, logging gains ranging from 0.5% for gold to 1.2% for palladium. Palladium’s advance lifted the metal to a new record.

Gold for April delivery rose $7.20 to settle at $1,578.80 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold will continue to rise until the market is sure as to what extent the virus has damaged," Reuters quoted Bob Haberkorn, senior market strategist at RJO Futures. "We got conflicting news overnight about the course that the epidemic is taking. We are not sure of how China is handling the situation."

Gold futures ranged from a low of $1,568.50 to a high of $1,581.70. They rose 0.1% on Wednesday, they lost 0.6% on Tuesday, and they moved ahead 0.4% on Monday.

Silver for March settled up 12.2 cents, or 0.7%, to $17.619 an ounce. Silver futures traded between $17.44 and $17.72. They declined 0.6% on Wednesday, they fell 1.1% on Tuesday, and they gained 0.5% on Monday.

In other precious metals futures prices on Thursday:

  • April platinum rose $7.40, or 0.8%, to $974.70 an ounce, ranging from $963.50 to $977.80.

  • Palladium for March delivery tacked on $28.50 to a record settlement of $2,351 an ounce. Palladium prices traded between $2,301.30 and $2,355.90.

London Precious Metals Prices

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

  • Gold gained $11.35, or 0.7%, to $1,575.05 an ounce.
  • Silver rose 8 cents, or 0.5%, to $17.64 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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