Gold, Silver Climb for Second Day

by CoinNews.net on May 11, 2017 · 0 comments

Bullion Gold Bars, Three

Gold, silver and platinum rose for a second day

Gold futures settled higher for a second straight session Thursday as U.S. and world stocks weakened.

Gold for June delivery tacked on $5.30, or 0.4%, to settle at $1,224.20 an ounce on the Comex division of the New York Mercantile Exchange.

"I think it’s a market looking for the next catalyst. Speculators are stuck waiting," Reuters quoted Afshin Nabavi, head of trading at MKS in Switzerland. "Higher real rates in the U.S., better economic growth in Europe; those all end up being headwinds," he added.

Gold futures ranged from a low of $1,216.90 to a high of $1,227.70. They rose 0.2% on Wednesday, shed 0.9% on Tuesday — closing at their lowest price since March 15, and edged up 20 cents on Monday.

Silver for July delivery advanced 5.8 cents, or 0.4%, to settle at $16.265 an ounce. Silver futures traded between $16.16 and $16.39. They gained 0.9% on Wednesday, declined 1.2% on Tuesday, logging their lowest settlement since Dec. 30, and shed 0.1% on Monday.

In other precious metals futures:

  • July platinum added $7.80, or 0.9%, to $917.70 an ounce, ranging from $909.40 to $919.60.

  • Palladium for June delivery dipped 40 cents, or less than 0.1%, to $798.95 an ounce, trading between $792.65 and $809.10.

London Precious Metals Prices

In comparing earlier fixed London bullion prices from Wednesday PM to Thursday PM:

  • Gold inched up 20 cents to $1,223.15 an ounce.
  • Silver gained 8 cents, or 0.5%, to $16.37 an ounce.

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

US Mint Bullion Sales in 2017

U.S. Mint bullion sales were unchanged Thursday. 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)
Thursday Sales Last Week This Week April Sales May Sales 2017 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 2,000 500 3,500 2,500 129,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 1,000 0 1,000 26,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 0 46,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 10,000 20,000 10,000 220,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 1,000 3,500 2,000 61,000
$1 American Eagle 1 Oz Silver Coin 0 530,000 450,000 835,000 980,000 9,772,500
2017 Effigy Mounds 5 Oz Silver Coin 0 100 500 900 600 21,200
2017 Frederick Douglass 5 Oz Silver Coin 0 800 1,200 17,600 2,000 19,600

 

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