Gold Soars 3.3% to Top $1,300; Silver Surges 4.4%

by CoinNews.net on June 19, 2014 · 1 comment

999.9 gold bullion, three bars

Gold and silver soared on Thursday

Gold and silver prices soared Thursday, boosted by safe-haven demand, short covering, and U.S. dollar weakness.

Gold for August delivery rallied $41.40, or 3.3%, to end at $1,314.10 an ounce on the Comex division of the New York Mercantile Exchange. The settlement price was the highest since April 14 when gold closed at $1,327.50 an ounce. The rise above $1,300 was a first since May 22.

Iraq has been "a background factor that’s helping to elevate gold," MarketWatch quoted Brien Lundin, editor of Gold Newsletter. "I think the generally dovish interpretation of the Fed policy statement yesterday has also helped gold," he said, adding that the two factors pushed gold futures toward technical levels that further accelerated gains.

Gold traded in heavy volume through an intraday range of $1,276.20 to $1,317.40.

In rounding out the precious metals complex:

  • Silver for July delivery surged 87 cents, or 4.4%, to $20.65 an ounce, ranging from $19.83 to $20.84. Silver prices have advanced in 13 of the last 14 sessions.

  • July platinum gained $23.70, or 1.6%, to $1,474.50 an ounce, trading between $1,450.10 and $1,474.70.

  • Palladium for September delivery tacked on $15.95, or 1.9%, to $838.60 an ounce, ranging from $824.50 to $839.

London Fix Precious Metals

Earlier fixed London precious metals logged more modest gains. In contrasting London fix prices from Wednesday PM to Thursday PM:

  • Gold jumped $23.25, or 1.8%, to $1,293 an ounce,
  • Silver rose 21 cents, or 1.1%, to $19.94 an ounce,
  • Platinum climbed $8, or 0.6%, to $1,459 an ounce, and
  • Palladium added $3, or 0.4%, to $830 an ounce

US Mint Bullion Sales in June

Sales of United States Mint bullion products were unchanged as of 2:45 p.m. ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold last week, this week so far, last month, the month so far, and the year-to-date.

American Eagle and Buffalo Bullion Sales (# of coins)
Thursday Sales Sales Last Week Weekly Sales May Sales June Sales YTD Sales
$100 American Platinum Eagle Bullion Coins 0 200 0 1,000 700 12,900
$50 American Gold Eagle Bullion Coins 0 7,000 8,500 29,000 26,000 181,500
$25 American Gold Eagle Bullion Coins 0 0 0 3,000 0 25,000
$10 American Gold Eagle Bullion Coins 0 0 0 6,000 0 68,000
$5 American Gold Eagle Bullion Coins 0 5,000 0 35,000 15,000 340,000
$50 American Buffalo Gold Bullion Coins 0 2,000 3,500 12,500 9,000 104,500
$1 American Eagle Silver Bullion Coins 0 675,000 580,000 3,988,500 1,925,000 23,361,500
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins 0 500 0 4,000 1,000 28,000
Shenandoah National Park 5 Oz Silver Bullion Coins 0 0 0 19,100 500 19,600
Arches National Park 5 Oz Silver Bullion Coins 0 13,500 2,800 N/A 16,300 16,300

 

{ 1 comment… read it below or add one }

silverlover June 19, 2014 at 5:19 pm

sell all the gold u have then buy GLD @ stock market, make Profit 🙂

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