Gold futures extended their winning streak Monday to four sessions in a row, and they marked a 5-1/2-month high.
Gold for June delivery rose $3.40, or 0.3%, to end at $1,291.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the strongest since Nov. 4 when prices closed at $1,304.50 an ounce.
"Gold is going higher here," Jason Schenker, president and founder of the Prestige Economics LLC, said in a Bloomberg TV interview Monday. "We see a gradually weakening dollar on trend. Although we expect two more rate hikes this year — September, December — and four rate hikes next year, what we also think is that a lot of that’s priced in."
Gold futures ranged from a low of $1,287.50 to a high of $1,297.40. Last week, they advanced 2.5%.
Meanwhile, silver for May delivery climbed less than a half cent to $18.514 an ounce, its highest settlement since ending Nov. 10 at $18.737 an ounce. Silver futures traded between $18.47 and $18.66. They tacked on 2% last week.
In PGM futures on Monday:
July platinum added $13.70, or 1.4%, to $991.10 an ounce, ranging from $975.60 to $993.
- Palladium declined 7.35, or 0.9%, to $788.55 an ounce, trading between $787.65 and $798.
Last week, the two metals ended divided with platinum up 1.5% and palladium down 1%.
London Precious Metals Prices
London markets shut down for Good Friday and Easter Monday holiday. The most recent PM price changes from Wednesday PM to Thursday PM had:
- Gold added $9.85, or 0.8%, to $1,284.15 an ounce.
- Silver rose 25 cents, or 1.4%, to $18.56 an ounce.
- Platinum climbed $13, or 1.4%, to $975 an ounce.
- Palladium added $13, or 1.6%, to $807 an ounce.
US Mint Bullion Coin Sales in 2017
U.S. Mint bullion sales were unchanged as of 4:33 p.m. ET. Below is a sales breakdown of U.S. bullion products with columns listing the number of coins sold during varying periods. Products with an asterisk (*) are no longer available.
|US Mint Bullion Sales (# of coins)|
|Monday Sales||Last Week||Mar Sales||April Sales||2017 Sales|
|$100 American Eagle 1 Oz Platinum Coin||0||0||0||0||20,000|
|$50 American Eagle 1 Oz Gold Coin||0||1,000||16,000||2,500||126,000|
|$25 American Eagle 1/2 Oz Gold Coin||0||0||1,000||0||25,000|
|$10 American Eagle 1/4 Oz Gold Coin||0||0||4,000||2,000||46,000|
|$5 American Eagle 1/10 Oz Gold Coin||0||0||35,000||5,000||195,000|
|$50 American Buffalo 1 Oz Gold Coin||0||1,000||8,500||2,000||57,500|
|$1 American Eagle 1 Oz Silver Coin||0||125,000||1,615,000||380,000||8,337,500|
|2017 Frederick Douglass 5 Oz Silver Coin||0||2,300||N/A||12,000||12,000|
|2017 Effigy Mounds 5 Oz Silver Coin||0||0||200||600||20,300|