Gold and Palladium Edge Higher Wed., April 8

by CoinNews.net on April 8, 2020 · 0 comments

10 Gold Bars

Gold futures ended almost flat Wednesday, April 8

Gold and palladium were little changed Wednesday, each rising a modest 0.04%, while silver and platinum declined 1.8% and 1.5%, respectively.

Gold for June delivery inched up 60 cents to settle at $1,684.30 an ounce on the Comex division of the New York Mercantile Exchange.

"As countries and federal governments stimulate their economies with helicopter money, stimulus programs – it’s a printing press of money supply, which is generally a very favorable environment for gold," Reuters quoted David Meger, director of metals trading at High Ridge Futures.

Gold futures ranged from a low of $1,670.70 to a high of $1,693.10. They declined 0.6% on Tuesday and they gained 2.9% on Monday — ending at their highest settlement since Dec. 17, 2012.

Silver for March delivery fell 27.5 cents to settle at $15.205 an ounce. Silver futures traded between $15.11 and $15.45. They climbed 2.1% on Tuesday — ending at their best price since March 6, and they rallied 4.7% on Monday.

In PGM futures on Wednesday:

  • July platinum declined $11.40 to $733.60 an ounce, ranging from $725.70 to $760.20.

  • Palladium for June delivery rose 90 cents to $2,095.20 an ounce, trading between $2,072 and $2134.90.

London Precious Metals Prices (LBMA)

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

  • Gold declined $1.45, or 0.09%%, to $1,647.80 an ounce.
  • Silver dipped a cent, or 0.07%, to $15.065 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales increased Wednesday by 6,000 ounces in American Gold Eagles. 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)
Wednesday Last Week This Week January February March April 2020 Sales
$50 American Eagle 1 Oz Gold Coin 6,000 43,000 12,000 38,000 3,500 133,000 45,500 220,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 23,000 2,000 8,000 0 33,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 18,000 2,000 20,000 0 40,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 60,000 20,000 95,000 0 175,000
$50 American Buffalo 1 Oz Gold Coin 0 0 0 21,000 1,000 47,500 0 69,500
$1 American Eagle 1 Oz Silver Coin 0 650,000 350,000 3,846,000 650,000 5,482,500 350,000 10,328,500
$1 American Eagle 1 Oz Platinum Coin 0 25,000 0 14,500 9,300 31,200 0 55,000

 

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