Gold, Silver Settle at 3-1/2-Week High

by CoinNews.net on May 22, 2017 · 0 comments

Four Gold Ingots, One Silver Bullion Bar

Precious metals futures moved mostly higher Monday

Gold futures ended higher for a second straight session in their start to the new trading week Monday, and closed at a 3-1/2-week high.

Gold for June delivery rose $7.80, or 0.6%, to close at $1,261.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since April 28.

"Gold prices were ending the U.S. day session moderately higher Monday afternoon, boosted by a lower U.S. dollar index and firmer crude oil prices," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

Gold futures ranged from a low of $1,251.60 to a high of $1,262.60. They advanced 2.1% last week.

Elsewhere, silver for July delivery jumped 39.5 cents, or 2.4%, to settle at $17.191 an ounce. The close is also the highest since April 28. Silver futures traded between $16.84 and $17.21. They rose last week by 2.4%.

In other precious metals prices:

  • July platinum increased $10.10, or 1.1%, to $950.30 an ounce, ranging from $936.60 and $952.

  • Palladium for June delivery declined $1.60, or 0.2%, to $759.10 an ounce, trading between $748.50 and $771.40.

The two metals were divided last week with platinum gaining 2.5% and palladium falling 5.3%.

London Precious Metals Prices

In comparing earlier fixed London bullion prices from Friday PM to Monday PM:

  • Gold added $6.85, or 0.6%, to $1,258.85 an ounce.
  • Silver added 18 cents, or 1.1%, to $16.95 an ounce.

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

Last week, palladium fell 4.7% while the other metal prices logged increases of 1.7% for gold, 2.9% for silver, and 2.3% for palladium.

US Mint Bullion Sales in 2017

U.S. Mint bullion sales were unchanged. 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 April Sales May Sales 2017 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 3,000 3,500 6,000 133,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 26,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 2,000 2,000 48,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 20,000 20,000 230,000
$50 American Buffalo 1 Oz Gold Coin 0 2,000 3,500 4,500 63,500
$1 American Eagle 1 Oz Silver Coin 0 505,000 835,000 1,560,000 10,352,500
2017 Effigy Mounds 5 Oz Silver Coin 0 300 900 900 21,500
2017 Frederick Douglass 5 Oz Silver Coin 0 0 17,600 2,400 20,000

 

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