Gold Marks Best Close Since March 2013; Palladium Logs New Record

by CoinNews.net on February 18, 2020 · 4 comments

9999 Gold Bullion

Gold finished at its best price since March 27, 2013

Precious metals jumped Tuesday in their start to the new trading week. U.S. markets closed Monday for Presidents Day. In notable metal milestones, silver marked its strongest finish since early January, gold scored its biggest close since early 2013, and palladium registered another new record.

Gold for April delivery tacked on $17.20, or 1.1%, to end at $1,603.60 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since March 27, 2013 when gold finished at $1,607.20 an ounce.

"Gold is finding buoyancy from increased risk aversion, as reflected also in falling stock markets and declining bond yields. The gold price is continuing to defy the firm U.S. dollar, which on a trade-weighted basis is priced at a 4½-month high," MarketWatch quoted Carsten Fritsch, analyst at Commerzbank, in a note.

Gold futures ranged from a low of $1,581.80 to a high of $1,608.20. They climbed 0.8% last week.

Silver for March delivery surged 41.6 cents, or 2.4%, to end at $18.15 an ounce. The finish was the highest since Jan. 8 when prices ended at $18.167 an ounce. Silver futures traded between $17.67 and $18.21. They rose 0.2% last week.

In other precious metals prices on Tuesday:

  • April platinum advanced $25.10, or 2.6%, to $993.90 an ounce, ranging from $966 to $996.40.

  • Palladium for March delivery soared $180.90, or 7.8%, to a record settlement of $2,497.60 an ounce. Palladium traded between $2,331.80 and $2,504.50.

London Precious Metals Prices

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

  • Gold rose $9.05, or 0.6%, to $1,589.85 an ounce.
  • Silver added 8.5 cents, or 0.5%, to $17.885 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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Cagey

The 2019 Palladium coin is now unavailable at the mint, FYI.

Melissa

It’s been unavailable since the day it went up for sale.. I had to get mine from MCM for a little over $1000, but it would be nice to get one for $70 to help makeup for the cost of buying the 1st one. $1000 is a lot for myself.

Chris

How many were sold? Did they just take it off sale because the price of Palladium is just too unpredictable right now.

Millhouse73

Mint is run by a bunch of morons! Clearly the mint purchased the blanks for the palladium eagle coins last year when palladium was $1000 dollars cheaper. They are making money hand over fist on every coin they sell, yet when the sell price is less than $300 over spot, they stop selling them. Seriously? $1000+ profit per coin is not enough profit? The mint is a joke!