Gold Gains for Sixth Straight Session, Silver Advances

by CoinNews.net on June 25, 2014 · 1 comment

Silver bullion bars, gold bullion bars, scales

Gold, silver and other precious metals traded higher Wednesday

Gold prices edged higher Wednesday, gaining for the sixth straight session and closing at another 10-week high.

Gold for August delivery rose $1.30, or 0.1%, to finish at $1,322.60 an ounce on the Comex division of the New York Mercantile Exchange. The closing price is the highest since April 14 when gold settled at $1,327.60 an ounce. Gains on Wednesday were attributed to safe-haven demand and a weaker U.S. dollar.

"The dollar weakness is keeping gold supported," Phil Streible, a senior commodity broker at R.J. O’Brien & Associates in Chicago, said in a telephone interview according to Bloomberg News. "There is also some safe-haven buying because of Iraq."

Gold prices traded from a low of $1,305.40 to a high of $1,325.60. In addition to the current streak, gold has climbed in 12 of 13 sessions.

Silver rose for a second consecutive day and has advanced in 12 of the last 13 sessions. Silver for July delivery added 7 cents, or 0.4%, to $21.12 an ounce, ranging from $20.71 to $21.17.

In rounding out the precious metals complex:

  • July platinum added $1.30, or 0.1%, to $1,473.20 an ounce, trading between $1,454.80 and $1,477.70.

  • Palladium for September delivery rose $2.85, or 0.3%, to $833.25 an ounce, ranging from $822.30 to $834.75.

London Fix Precious Metals

Earlier fixed London precious metals declined. In contrasting London bullion fix prices from Tuesday PM to Wednesday PM:

  • Gold lost $1.75, or 0.1%, to $1,316.75 an ounce,
  • Silver fell 34 cents, or 1.6%, to $20.78 an ounce,
  • Platinum dropped $10, or 0.7%, to $1,459 an ounce, and
  • Palladium shed $2, or 0.2%, to $826 an ounce

US Mint Bullion Sales in June

United States Mint bullion sales were unchanged as of 2:56 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-to-date, and the year-to-date.

American Eagle and Buffalo Bullion Sales (# of coins)
Wednesday Sales Sales Last Week Sales Week-To-Date Sales May Sales June Sales YTD Sales
$100 American Platinum Eagle Bullion Coins 0 0 0 1,000 700 12,900
$50 American Gold Eagle Bullion Coins 0 11,500 3,500 29,000 32,500 188,000
$25 American Gold Eagle Bullion Coins 0 0 0 3,000 0 25,000
$10 American Gold Eagle Bullion Coins 0 2,000 0 6,000 2,000 70,000
$5 American Gold Eagle Bullion Coins 0 5,000 0 35,000 20,000 345,000
$50 American Buffalo Gold Bullion Coins 0 6,500 0 12,500 12,000 107,500
$1 American Eagle Silver Bullion Coins 0 580,000 0 3,988,500 1,925,000 23,361,500
Great Smoky Mountains National Park 5 Oz Silver Bullion Coins 0 0 1,000 4,000 2,000 29,000
Shenandoah National Park 5 Oz Silver Bullion Coins 0 0 400 19,500 900 20,000
Arches National Park 5 Oz Silver Bullion Coins 0 2,800 2,000 N/A 18,300 18,300

 

{ 1 comment… read it below or add one }

S Grubb June 26, 2014 at 6:06 pm

The Mint ran out of Silver Eagles again?

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