Gold Dips 0.5%; Silver Rises 0.8%

by CoinNews.net on April 16, 2020 · 0 comments

Bullion, 3 Gold Bars

Gold finished 0.5% lower on Thursday, April 16

In futures trading Thursday, silver finished higher while gold, platinum and palladium posted a second straight day of losses.

Gold for June delivery shed $8.50, or 0.5%, to settle at $1,731.70 an ounce on the Comex division of the New York Mercantile Exchange.

"With the talk of how governments are going to reopen economies … gold seems to be focused on moving past the peak of the pandemic. So from the perspective that there are some brighter skies ahead we’re seeing some pullback," Reuters quoted David Meger, director of metals trading at High Ridge Futures.

Gold futures ranged from a low of $1,722.60 to a high of $1,768. They fell 1.6% on Wednesday, they gained 0.4% on Tuesday — ending at their highest price since Oct. 11, 2012, and they rose 0.5% on Monday.

Silver for May delivery rose 11.7 cents, or 0.8%, to settle at $15.622 an ounce. Silver futures traded between $15.43 and $15.92. They sank 3.9% on Wednesday, they rallied 3.8% on Tuesday — closing at their best price since March 6, and they declined 3.2% on Monday.

In other precious metals futures prices Thursday:

  • July platinum declined $11.30, or 1.4%, to $793.30 an ounce, ranging from $779.90 to $820.50.

  • Palladium for June delivery fell $32.90, or 1.5%, to $2,120.70 an ounce, trading between $2,090 and $2,186.30.

London Precious Metals Prices (LBMA)

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

  • Gold gained $10.85, or 0.6%, to $1,729.50 an ounce.
  • Silver shed 7 cents, or 0.5%, to $15.50 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Thursday. 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)
Thursday Last Week This Week January February March April 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 12,000 11,000 38,000 3,500 133,000 56,500 231,000
$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 4,000 21,000 1,000 47,500 4,000 73,500
$1 American Eagle 1 Oz Silver Coin 0 350,000 0 3,846,000 650,000 5,482,500 350,000 10,328,500
$1 American Eagle 1 Oz Platinum Coin 0 0 1,500 14,500 9,300 31,200 1,500 56,500

 

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