April 2010 Bullion Prices: Gold, Silver, Platinum and Palladium

by Bullion Prices Staff on May 1, 2010

U.S. gold prices rallied Friday and closed April at a multi-month high of $1,180.70 an ounce, marking a weekly increase of $27.00, or 2.3%. Prices lifted during the final days of the month due to continuing concerns over widening sovereign debt issues in Europe, opined analysts.

"Importantly, the deepening European Union debt crisis this week saw traders and investors change their perspective on gold, from one of a speculative commodity play, to a safe-haven investment during times of heightened uncertainty," wrote Jim Wyckoff of Kitco News.

In New York bullion futures for April, gold for June delivery jumped 5.9%, July silver advanced 6.4%, July platinum rose 6.0% and June palladium soared 15.8%.

"Gold has had quite a big move this month," Nick Bullman, managing director of Bullman Investment Management, said on Reuters. "The buying has been based on default issues in Europe and other debasement of currencies."

"Concerns of a meltdown in European debt markets have abated somewhat but gold’s continuing strength in euros and other currencies signals that the worst may not be past," analysts at GoldCore wrote and were cited on MarketWatch.

In other New York weekly metal prices, silver ended at $18.639 an ounce which was a weekly increase of 45 cents, or 2.5%. Platinum closed up $3.40, or 0.2%, to $1,745.10. Palladium fell $7.45, or 1.3%, to $555.75 an ounce.

In London bullion prices for April, gold and platinum prices were both up 5.7%, silver settled 6.4% higher, and palladium rose 15.2%.

Gold finished the month at $1,179.2 an ounce, gaining $39.75, or 3.5% during the final week.

"For the time being, attention remains focused on Europe," analysts at Deutsche Bank AG said in a report cited on Bloomberg. "An escalation in U.S. sovereign risk would trigger a foreign- exchange adjustment in the U.S. dollar, which we would view as bullish for the gold price."

In other weekly London Fix metal prices, silver gained 4.1%, platinum was at $1,738.00 an ounce, rising $13.00 or 0.8% increase while palladium declined $3.00, or 0.5% to $552.00.

To follow are silver, gold and platinum performance charts and bullion coin news.

London Fix Weekly Bullion Prices – April 2010

(April 23 – 30)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
X
 
4.1%
$0.73
$18.620
Gold
X
 
3.5%
$39.75
$1,179.25
Platinum
X
 
0.8%
$13.00
$1,738.00
Palladium
 
X
-0.5%
-$3.00
$552.00

 

(April 16 – 23)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
 
X
-2.5%
-$0.46
$17.890
Gold
 
X
-1.0%
-$12.00
$1,139.50
Platinum
X
 
1.0%
$17.00
$1,725.00
Palladium
X
 
4.3%
$23.00
$555.00

 

(April 9 – 16)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
X
 
0.1%
$0.01
$18.35
Gold
 
X
-0.1%
-$1.00
$1,151.50
Platinum
 
X
-0.6%
-$10.00
$1,708.00
Palladium
X
 
4.1%
$21.00
$532.00

 

(April 1 – 9)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
X
 
3.7%
$0.65
$18.34
Gold
X
 
2.6%
$29.00
$1,152.50
Platinum
X
 
3.5%
$58.00
$1,718.00
Palladium
X
 
4.1%
$20.00
$511.00

 

(March 26 – April 1)

 
Up
Down
Week % Change
Week $ Change
Friday Close
Silver
X
 
5.0%
$0.84
$17.69
Gold
X
 
2.5%
$27.00
$1,123.50
Platinum
X
 
4.0%
$64.00
$1,660.00

US Mint Gold and Silver Coin Weekly News

In related bullion, business and United States Mint news, interesting or quick-read articles from the week include:

  • First Day 2010 Gold Buffalo Sales at 48,500
    2010 $50 American Gold Buffalo bullion coins debuted to roaring sales of 48,500 on their first day of issue, according to the United States Mint.

    The U.S. Mint on Tuesday told its authorized purchasers that the 24 karat gold coins would be released Thursday, April 29. Buyers were ready.

    The one day sales represent 15.0% of all the bullion Buffalos sold in their inaugural 2006 year, 29.0% of those in 2007, 28.2% of 2008 and 24.3% of 2009…

  • Hot Springs Quarters Debut, BSA Dollars Near Sell Out
    The opening sales figures for 2010 Hot Springs Quarter bags and rolls have been released by the United States Mint. Those and the Boy Scouts of America (BSA) Silver Dollars sales are highlights in this week’s report.

    The US Mint launched the Arkansas’ Hot Springs National Park Quarter on April 20, 2010, during a ceremony on the park’s 178th anniversary. It also released bags and rolls of the quarters on the previous day, which pulled in a fair share of collector dollars.

    Hot Springs two-roll sets which include 40 coins from Philadelphia and 40 from Denver reached sales of 25,983. Philadelphia 100-coin bags hit 5,268. Denver 100-coin bags totaled 4,915…

 

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