Gold Scores 7-Month High, Silver Ends at New 6-Week High

by CoinNews.net on June 6, 2017 · 0 comments

Fine Gold Bullion 999.9

Gold ended at its best price this year

Precious metals futures advanced for a third straight session Tuesday. Gold gained the most, closing at its best price in seven months.

Gold for August delivery tacked on $14.80, or 1.2%, to finish at $1,297.50 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the highest since Nov. 4.

"Bullish charts, a weak U.S. dollar and safe-haven demand are all working in favor of the gold market bulls, at present," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

"There is some risk aversion in the marketplace this week, ahead of potentially markets-moving happenings later this week. Such is benefiting safe-haven gold, as well as U.S. Treasuries and the Japanese yen," Wyckoff added.

Gold futures ranged from a low of $1,282.10 to a high of $1,298.80. They climbed 0.2% in the previous session.

Elsewhere, silver for July delivery settled up 12.9 cents, or 0.7%, to $17.71 an ounce. The settlement is the strongest since April 24. Silver futures traded between $17.51 and $17.75. They rose 0.3% in their start to the week on Monday.

In other precious metals futures on Tuesday:

  • July platinum added $5.70, or 0.6%, to $963.30 an ounce, ranging from $953.30 to $969.50.

  • Palladium for September delivery gained $6.55, or 0.8%, to $848.40 an ounce, trading between $837.30 and $853.

London Precious Metals Prices

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

  • Gold bounced $13.55, or 1.1%, to $1,293.50 an ounce.
  • Silver added 4 cents, or 0.2%, to $17.56 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 as of 4:21 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)
Tuesday Last Week This Week / June May YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 500 0 10,000 137,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 2,000 27,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 48,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 5,000 30,000 245,000
$50 American Buffalo 1 Oz Gold Coin 0 500 500 5,000 64,500
$1 American Eagle 1 Oz Silver Coin 0 300,000 229,000 2,455,000 11,476,500
2017 Effigy Mounds 5 Oz Silver Coin 0 100 2,000 5,600 28,200
2017 Frederick Douglass 5 Oz Silver Coin 0 0 0 2,400 20,000
2017 Ozark Riverways 5 Oz Silver Coin 0 N/A 17,200 N/A/ 17,200

 

{ 0 comments… add one now }

Leave a Comment