On May 14, 1973, gold broached $100 an ounce for the first time, closing at $102.50 an ounce in the London Market. In the U.S., though, the official price was much less.
The U.S. Mint recorded slight sales increases for American Eagle and American Buffalo gold bullion coins in April over the previous month.
Gold bar and coin demand experienced weakness during the first three months of 2018.
The global mine supply of silver records a 2017 deficit of 26 million ounces as demand ebbs in the Western hemisphere.
Dillon Gage Metals to release a new Koala .9999 fine silver 2-ounce bullion $2 coin from the Perth Mint with a “Mother & Baby – The Next Generation” design.
Two officials of the now bankrupt Northwest Territorial Mint have both been indicted by a federal grand jury in connection with multiple bullion fraud schemes that allegedly bilked 3,000 customers out of nearly $36 million combined.
Concerns over Russian metal supplies sparked volatility in the palladium market, pushing the spot price of the precious metal per troy ounce up 23.5 percent, from $852 per troy ounce April 6 to more than $1,052 on April 19.
Coverage of legislation seeking a return to a gold standard tops our list. Also this week, a Minnesota coin dealer was indicted on federal counterfeiting charges.
Precious metals market analyst Keith Weiner says setting a new U.S. gold standard is nothing more than price-fixing.
A West Virginia legislator introduced H.R. 5404 on March 22, seeking to require the Treasury secretary to define the dollar in terms of a fixed weight of gold.
