Gold Dips from 2-Week High, Silver Prices Ease

by CoinNews.net on June 7, 2016 · 0 comments

Silver bars closeup

Gold futures slipped less than 0.1% while silver futures shed 0.3%

Gold and silver futures changed modestly on Tuesday and for a second day in a row, this time edging lower.

Gold for August delivery dipped 40 cents to settle at $1,247 an ounce on the Comex division of the New York Mercantile Exchange.

"The cautiousness of investors is probably temporary and we would expect investors to take this opportunity to reload and look at further gains in the coming weeks," Reuters quoted Daniel Hynes, an analyst at ANZ in Sydney. "There are some key data releases this week as well and investors probably don’t want to commit aggressively until some of that data is passed. I think they’ll be positioning for a general move higher over the next week."

Gold futures traded from a low of $1,236.90 to a high of $1,249. In starting the week on Monday, they climbed $4.50, or 0.4%, and closed at a two-week high.

Silver for July delivery shed 5.3 cents, or 0.3%, to settle at $16.394 an ounce. Silver prices ranged from $16.24 to $16.49. They moved up 0.5% in the previous session.

In other precious metals futures on Tuesday:

  • July platinum gained $2.90, or 0.3%, to $999.40 an ounce, trading between $984.20 and $1,003.20.

  • Palladium for September delivery declined $4.85, or 0.9%, to $552.15 an ounce, ranging from $544.75 to $560.60.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Monday PM to Tuesday PM:

  • Gold lost $3, or 0.2%, to $1,241 an ounce.
  • Silver fell 9 cents, or 0.6%, to $16.31 an ounce.

LBMA platinum and palladium prices are available on the LBMA’s website with a delay of midnight.

US Mint Bullion Coin Sales in 2016

U.S. Mint bullion sales were unchanged Tuesday as of 3:07 p.m. ET. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of bullion coins sold during varying periods of time.

US Mint Bullion Sales (# of coins)
Tuesday Sales Last Week This Week Apr Sales May Sale June Sales 2016 Sales
$50 American Eagle 1 Oz Gold Coins 0 17,000 7,000 93,500 64,500 16,500 360,000
$25 American Eagle 1/2 Oz Gold Coins 0 2,000 0 6,000 7,000 0 43,000
$10 American Eagle 1/4 Oz Gold Coins 0 0 0 14,000 10,000 0 76,000
$5 American Eagle 1/10 Oz Gold Coins 0 10,000 10,000 55,000 60,000 10,000 445,000
$50 American Buffalo 1 Oz Gold Coins 0 5,500 500 19,500 18,500 3,500 101,500
$1 American Eagle 1 Oz Silver Coins 0 650,500 649,500 4,072,000 4,498,500 720,500 24,133,000
2016 Shawnee 5 Oz Silver Coins 0 0 0 0 0 0 105,000
2016 Cumberland Gap 5 Oz Silver Coins 0 0 0 64,000 11,000 0 75,000
2016 Harpers Ferry 5 Oz Silver Coins 0 0 33,000 64,000 11,000 33,000 33,000

 

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