Gold, Silver and Platinum Snap 5-Session Winning Streak

by CoinNews.net on May 19, 2015 · 0 comments

Gold bullion and gold bullion coins

Gold prices ended lower for the first time in over a week.

Gold, silver and platinum closed lower on Tuesday for the first time in six sessions as the U.S. dollar rebounded following an upbeat U.S. housing market report.

Gold for June delivery dropped $20.90, or 1.7%, to settle at $1,206.70 an ounce on the Comex division of the New York Mercantile Exchange.

"The dollar broke out last week as investors interpreted mostly soft economic data as reason for the [Federal Reserve] to delay "rate liftoff" to the end of 2015 or even out to 2016," MarketWatch quoted Tyler Richey, an analyst for the 7:00’s Report. "However, after … [the] strong housing starts number, and with multiple other reports due out later this week with optimistic results expected, the uptrend in gold is being tested."

U.S. housing starts jumped 20.2% in April to their highest level in nearly 7-1/2 years, the Commerce Department said on Tuesday. The percent increase was the biggest since February 1991.

Gold traded on the day from a low of $1,205.10 to a high of $1,225.50. Prices over the prior five sessions advanced $44.60, or 3.8%. They settled on Monday at a more than three-month high.

Silver for July delivery tumbled 66 cents, or 3.7%, to close at $17.07 an ounce. Prices ranged from $16.87 to $17.74.

In PGM futures on Tuesday:

  • July platinum declined $27.60, or 2.3%, to $1,150.90 an ounce, trading between $1,147.20 and $1,178.10.

  • Down for a second day in a row, palladium for June delivery fell $17.85, or 2.3%, to $775.15 an ounce, ranging from $774.70 to $788.20.

London Precious Metals Prices

Earlier fixed London precious metals prices declined as well. In comparing London bullion prices from Monday PM to Tuesday PM:

  • Gold shed $9.20, or 0.8%, to $1,214.30 an ounce,
  • Silver fell 30 cents, or 1.7%, to $17.40 an ounce,
  • Platinum declined $19, or 1.6%, to $1,155 an ounce, and
  • Palladium lost $13, or 1.6%, to $784 an ounce.

US Mint Bullion Coin Sales in May

United States Mint bullion sales were unchanged Tuesday as of 4:11 PM ET. Below is a listing of U.S. Mint bullion products that shows the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.

US Mint Bullion Sales (# of coins)
Tuesday Sales Last Week Weekly Sales April Sales May Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 0 1,000 500 23,500 4,000 126,500
$25 American Eagle 1/2 Oz Gold Coins 0 2,000 0 4,000 2,000 31,000
$10 American Eagle 1/4 Oz Gold Coins 0 0 0 4,000 6,000 54,000
$5 American Eagle 1/10 Oz Gold Coins 0 5,000 0 30,000 20,000 285,000
$50 American Buffalo 1 Oz Gold Coins 0 2,000 1,000 10,000 4,500 70,500
$1 American Eagle 1 Oz Silver Coins 0 225,000 250,000 2,851,500 1,308,500 16,231,000
2015 Homestead 5 Oz Silver Coins* 35,000
2015 Kisatchie 5 Oz Silver Coins* 0 0 0 30,000 12,000 42,000

 

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