Gold and Silver Decline Wed., April 29

by CoinNews.net on April 29, 2020 · 0 comments

Shelves of gold bullion bars

Gold futures shed 0.5% on Wednesday, April 29

For a third straight session Wednesday, platinum gained as gold and silver declined. Palladium also advanced on the day, its first increase in four sessions. Losses in gold and silver were actually their fourth in a row.

Gold for June delivery declined $8.80, or 0.5%, to settle at $1,713.40 an ounce on the Comex division of the New York Mercantile Exchange.

"You just have the risk-on sentiment from U.S. equity markets… I think there’s some profit taking in gold right now and a lot of people are getting repositioned for the next flight up in gold," Reuters quoted Michael Matousek, head trader at U.S. Global Investors.

Gold futures ranged from a low of $1,708.20 to a high of $1,728.80. They shed 0.09% on Tuesday and they lost 0.7% on Monday.

Silver for July delivery gave back 1.3 cents, or 0.08%, to close at $15.315 an ounce. Silver futures traded between $15.23 and $15.59. They lot 0.08% on Tuesday and they declined 0.4% on Monday.

In PGM futures on Wednesday:

  • July platinum rose $4, or 0.5%, to $799.60 an ounce, ranging from $792.20 to $829.50.

  • Palladium for June delivery tacked on $38.70, or 2.1%, to $1,917.40 an ounce, trading between $1,888.10 and $1,974.50.

London Precious Metals Prices (LBMA)

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

  • Gold rose $11.80, or 0.7%, to $1,703.35 an ounce.
  • Silver added 2 cents, or 0.1%, to $15.165 an ounce.

US Mint Bullion Sales in 2020

United States Mint bullion sales advanced by a combined 4,500 ounces in gold coins. 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 2,500 36,000 11,500 38,000 3,500 133,000 104,000 278,500
$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 2,000 12,000 9,500 21,000 1,000 65,500 27,500 115,000
$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.

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