Gold, Silver and Palladium Decline for Second Day

by CoinNews.net on April 28, 2020 · 0 comments

closeup of gold bullion

Gold prices fell less than 0.1% on Monday, April 28

For a second straight session, platinum prices increased while those for gold, silver and palladium declined.

Gold for June delivery dipped $1.60, or 0.09%, to settle at $1,722.20 an ounce on the Comex division of the New York Mercantile Exchange.

"More chart consolidation and some profit taking by the shorter-term futures traders are featured early this week. The gold market bulls are still encouraged by their metal’s stability amid recent rallies in global stock markets," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note. "This week’s drop in crude oil prices has somewhat curtailed demand for the precious metals, as oil is arguably the leader of the raw commodity sector."

Gold futures ranged from a low of $1,704.10 to a high of $1,731.90. They lost 0.7% on Monday.

Silver for July delivery — the new, most-active contract — slid 1.3 cents, or 0.08%, to close at $15.328 an ounce. Silver futures traded between $15.08 and $15.51. They declined 0.4% on Monday.

In other precious metals prices Tuesday:

  • July platinum rose $18.60, or 2.4%, to $795.60 an ounce, ranging from $771.30 to $801.50.

  • Palladium for June delivery declined $16.10, or 0.9%, to $1,878.70 an ounce, trading between $1,862.50 and $1,922.10.

London Precious Metals Prices (LBMA)

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

  • Gold declined $23.40, or 1.4%, to $1,691.55 an ounce.
  • Silver fell 6 cents, or 0.4%, to $15.145 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales were unchanged Tuesday following solid gains on Monday. 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)
Tuesday Last Week This Week January February March April 2020 Sales
$50 American Eagle 1 Oz Gold Coin 0 36,000 9,000 38,000 3,500 133,000 101,500 276,000
$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 12,000 9,500 21,000 1,000 65,500 25,500 113,000
$1 American Eagle 1 Oz Silver Coin 0 0 400,000 3,846,000 650,000 5,482,500 750,000 10,728,500
$1 American Eagle 1 Oz Platinum Coin 0 0 0 14,500 9,300 31,200 1,500 56,500

 

In terms of 5-ounce silver bullion sales for 2020, the U.S. Mint is working on getting them automated and reported. Initial U.S. Mint-provided figures have the first two 2020-dated pieces at 45,000 produced and sold per issue. These amounts are being verified.

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments