Precious Metals Gain in April Start

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Precious metals kicked of the new trading month Thursday with gains ranging from 0.8% for gold to 1.7% for silver.

Gold for June delivery tacked on $12.80 to settle at $1,728.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Quarter-end rebalancing and short covering may be helping the precious metal recoup some losses after what was a terrible quarter," MarketWatch quoted Raffi Boyadjian, senior investment analyst at XM.

Gold futures ranged from a low of $1,706.40 to a high of $1,732. They gained 1.8% on Wednesday, but still marked declines of 0.8% for Mach and 9.5% for the first quarter, they dropped 1.7% on Tuesday, and they declined 1.2% on Monday.

Silver for May delivery jumped 41.6 cents to end at $24.948 an ounce. Silver futures traded between $24.27 and $25.05. They gained 1.6% on Wednesday, yet still logged losses of 7.2% for March and 7.1% for the first quarter, they lost 2.6% on Tuesday, and they fell 1.4% on Monday.

In other precious metals futures Thursday:

  • July platinum added $17.10, or 1.4%, to $1,208.60 an ounce, ranging from $1,176.60 to $1,217.50.

  • Palladium for June delivery added $35.90, or 1.4%, to $2,655.80 an ounce, trading between $2,607 and $2,699.

US Mint Bullion Sales in 2021

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. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Thursday / This Week / April Last Week January Sales February Sales March Sales 2021 Sales
$50 American Eagle 1 Oz Gold Coin 0 10,500 191,000 121,000 45,000 357,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 22,000 9,000 0 31,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 36,000 0 20,000 56,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 95,000 0 55,000 150,000
$50 American Buffalo 1 Oz Gold Coin 0 17,500 61,500 16,000 32,500 110,000
$1 American Eagle 1 Oz Silver Coin 0 850,000 4,775,000 3,191,500 3,302,000 11,268,500
$100 American Eagle 1 Oz Platinum Coin 0 0 N/A N/A 35,000 35,000
America Samoa 5 oz Silver Coin* 0 0 0 0 0 0
Weir Farm 5 oz Silver Coin* 0 0 0 0 0 0
Salt River Bay 5 oz Silver Coin* 0 0 0 0 0 0
Marsh Billings 5 oz Silver Coin* 0 0 0 0 0 0
Tallgrass Prairie 5 oz Silver Coin* 0 0 0 0 0 0
$1 American Eagle 1 Oz Platinum Coin* 0 0 0 0 0 0
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Kaiser Wilhelm

I guess it makes more sense for me to hope that silver remains relatively inexpensive so I can buy more of it than to hope that silver goes up so that what I already have will be worth more. That’s especially true since my interest is in collecting rather than flipping.

Buy silver.jpg
Last edited 5 months ago by Kaiser Wilhelm