Gold Falls Slightly, Silver Settles Higher

by CoinNews.net on June 20, 2016 · 0 comments

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Silver settled 0.6% higher on Monday

Gold futures settled lower for a second session in a row on Monday, after advancing for seven straight sessions.

Gold for August delivery declined $2.70, or 0.2%, to settle at $1,292.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold is more likely to trade lower ahead of the Brexit vote given its strong rally over the last few weeks," MarketWatch quoted Michael Armbruster, principal and co-founder at Altavest. "We look for gold to make another push higher after the Brexit vote," he said.

The U.K. votes on Thursday on an exit from the European Union (Brexit).

Gold futures ranged from a low of $1,280.80 to a high of $1,296.80. They advanced 1.5% last week for their third straight weekly gain. On Thursday, gold ended at its highest price since Jan. 22, 2015.

Silver for July delivery rose 10.3 cents, or 0.6%, to settle at $17.514 an ounce. Silver futures traded between $17.30 and $17.66. They moved up last week by 0.5%.

In other precious metals trading on Monday:

  • July platinum gained $21.10, or 2.2%, to $987.20 an ounce, ranging from $965 to $990.10.

  • Palladium for September delivery rallied $18.80, or 3.6%, to $548.45 an ounce, trading between $530.55 and $550.75.

Last week the two metals registered losses of 2.8% and 3%.

London Precious Metals Prices

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

  • Gold declined $8.90, or 0.7%, to $1,281.80 an ounce.
  • Silver shed 3.5 cents, or 0.2%, to $17.34 an ounce.

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

Last week, gold added 1.2% and silver rose 0.3% while platinum fell 2.8% and palladium plummeted 4.2%.

US Mint Bullion Coin Sales in 2016

United States Mint bullion sales were unchanged Monday. Earlier in the day, the U.S. Mint said its latest weekly allocation of American Silver Eagle is 2,204,500 coins. 2016 Silver Eagles are running at a record pace with 24,795,500 sold, marking a 26.9% increase over those sold through same time in record-breaking year 2015.

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)
Monday Sales Last Week Apr Sales May Sale June Sales 2016 Sales
$50 American Eagle 1 Oz Gold Coins 0 14,000 93,500 64,500 36,000 379,500
$25 American Eagle 1/2 Oz Gold Coins 0 1,000 6,000 7,000 1,000 44,000
$10 American Eagle 1/4 Oz Gold Coins 0 2,000 14,000 10,000 4,000 80,000
$5 American Eagle 1/10 Oz Gold Coins 0 15,000 55,000 60,000 35,000 470,000
$50 American Buffalo 1 Oz Gold Coins 0 3,000 19,500 18,500 9,000 107,000
$1 American Eagle 1 Oz Silver Coins 0 468,000 4,072,000 4,498,500 1,382,500 24,795,500
2016 Shawnee 5 Oz Silver Coins 0 0 0 0 0 105,000
2016 Cumberland Gap 5 Oz Silver Coins 0 0 64,000 11,000 0 75,000
2016 Harpers Ferry 5 Oz Silver Coins 0 1,200 64,000 11,000 34,200 34,200

 

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