Gold Hits 6-1/2-Week High; Ozark Riverways 5 Oz Bullion Coin Released

by CoinNews.net on June 5, 2017 · 1 comment

Stacked bullion

Gold futures settled at their best price since April 21

Precious metals futures advanced together for a second session in a row Monday. Gold notched a new 6-1/2-week high while silver closed at its best price in 6 weeks.

Gold for August delivery climbed $2.50, or 0.2%, to settle at $1,282.70 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since April 21.

"Gold spiked higher after the soft jobs report last week and so far, is maintaining those gains this week," MarketWatch quoted Tyler Richey, co-editor of the Sevens Report. "In the near term, gold will continue to trade in lockstep with longer-dated bonds, and as long as the general uptrend in the 30 year continues, so too will the 2017 gold rally," he added.

Gold futures ranged from a low of $1,280.20 to a high of $1,286. They rose 1% last week for their fourth straight weekly gain.

Meanwhile, silver for July delivery moved up 5.6 cents, or 0.3%, to end at $17.581 an ounce. The close is the highest since April 25. Silver futures traded between $17.49 and $17.65. They advanced last week by 1.2%.

In rounding out precious metals dealings:

  • July platinum added $4.20, or 0.4%, to $957.60 an ounce, ranging from $950.70 and $963.50.

  • Palladium for September delivery tacked on $7.80, or 0.9%, to $841.85 an ounce, trading between $833.60 and $844.70.

Last week, platinum declined 1% while palladium leapt 6%.

London Precious Metals Prices

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

  • Gold rose $5, or 0.4%, to $1,279.95 an ounce.
  • Silver gained 33 cents, or 1.9%, to $17.52 an ounce.

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

Last week, the metals divided with gold and palladium higher by 0.8% and 7.3% and silver and platinum lower by 0.6% and 3%.

US Mint Bullion Sales in 2017

U.S. Mint bullion products logged their first gains of the month with gold coins advancing 1,000 ounces and silver coins rising by 325,000 ounces.

2017-S Silver Proof Ozark National Scenic Riverways Quarter, Reverse

The U.S. Mint is now accepting orders for the five ounce Ozark Riverways America the Beautiful Silver Bullion Coin. The coin shares the same designs as on the Ozark Riverways quarter (shown above), which the Mint is selling in rolls and bags at www.usmint.gov.

A portion of the silver sales included the third 2017-dated America the Beautiful Five Ounce Silver Bullion Coin. Emblematic of Ozark National Scenic Riverways in Missouri, its first-day sales totaled 17,200 coins or 86,000 ounces.

Also on Monday, the U.S. Mint released rolls and bags of Ozark Riverways quarters. The five ounce silver coin and quarter share designs.

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 / June Last Week May YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 500 10,000 137,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 2,000 27,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 48,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 0 30,000 245,000
$50 American Buffalo 1 Oz Gold Coin 500 500 5,000 64,500
$1 American Eagle 1 Oz Silver Coin 229,000 300,000 2,455,000 11,476,500
2017 Effigy Mounds 5 Oz Silver Coin 2,000 100 5,600 28,200
2017 Frederick Douglass 5 Oz Silver Coin 0 0 2,400 20,000
2017 Ozark Riverways 5 Oz Silver Coin 17,200 N/A N/A/ 17,200

 

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T June 5, 2017 at 8:57 pm

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