Gold, Silver Climb; US Coin Sales Increase

by CoinNews.net on June 2, 2015 · 0 comments

Three Gold Bullion Bars, Dark Background

Gold, silver and platinum advanced on Tuesday. Palladium declined.

Most precious metals bounced for slight gains on Tuesday following equally modest losses on Monday.

Gold for August delivery moved up $5.70, or 0.5%, to settle at $1,194.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices ended the U.S. day session firmer Tuesday on a short-covering and bargain-hunting bounce from recent selling pressure," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Also, the U.S. dollar index was sharply lower Tuesday, which worked in favor of the precious metals and the raw commodity sector bulls."

Gold prices traded from a low of $1,185.80 to a high of $1,196.40. They shed $1.10, or less than 0.1%, in the prior session.

Silver for July delivery tacked on 12 cents, or 0.7%, to close at $16.80 an ounce. Silver prices ranged from a low of $16.61 to a high of $16.84. They slipped on Monday by 2 cents, or 0.1%.

In PGM futures on Tuesday:

  • July platinum rose $8.60, or 0.8%, to $1,112.80 an ounce, trading between $1,101.10 and $1,114.80.

  • Palladium for September delivery declined $4.20, or 0.5%, to $768.55 an ounce, ranging from $765 to $776.85.

London Precious Metals Prices

Earlier fixed London precious metals prices were mixed to flat. In comparing London bullion prices from Monday PM to Tuesday PM:

  • Gold declined $7.10, or 0.6%, to $1,192.80 an ounce,
  • Silver added 9 cents, or 0.5%, to $16.70 an ounce,
  • Platinum fell $4, or 0.4%, $1,105 an ounce, and
  • Palladium was unchanged at $773 an ounce.

US Mint Bullion Coin Sales in June

United States Mint bullion sales padded prior-day gains with increases of 2,500 ounces in gold coins and 375,000 ounces in silver coins. This week’s two-day sales of American Silver Eagles have more than doubled sales from last week.

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 Last Week This Week/June May Sales YTD Sales
$50 American Eagle 1 Oz Gold Coins 1,500 4,000 1,500 13,500 137,500
$25 American Eagle 1/2 Oz Gold Coins 0 1,000 0 3,000 32,000
$10 American Eagle 1/4 Oz Gold Coins 0 4,000 0 10,000 58,000
$5 American Eagle 1/10 Oz Gold Coins 5,000 10,000 10,000 40,000 315,000
$50 American Buffalo 1 Oz Gold Coins 500 2,500 1,000 9,500 76,500
$1 American Eagle 1 Oz Silver Coins 375,000 375,000 775,000 2,023,500 17,721,000
2015 Homestead 5 Oz Silver Coins* 35,000
2015 Kisatchie 5 Oz Silver Coins* 12,000 42,000

 

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