Gold, Silver, and Platinum Decline for Second Day

by CoinNews.net on June 8, 2017 · 0 comments

Gold bullion and gold coins

Palladium rose Thursday while other precious metals closed lower

Precious metals futures ended mixed Thursday, with gold, silver and platinum down for a second day in a row after climbing for three straight.

Gold for August delivery lost $13.70, or 1.1%, to settle at $1,279.50 an ounce on the Comex division of the New York Mercantile Exchange.

"One of the big drivers behind gold’s move is the dollar catching a little bit of its footing … if you look at the way gold is trading, until it breaks out of that recent trend around the $1,270-$1,275 area and get back into $1,260s it’s hard to be bearish," Reuters quoted Joshua Graves, markets strategist at RJO Futures.

Gold futures ranged from a low of $1,273.50 to a high of $1,291.50. They slipped 0.3% on Wednesday, advanced 1.2% on Tuesday — closing at their highest level since Nov. 4, and climbed 0.2% on Monday.

Meanwhile, silver for July delivery dropped 20.6 cents, or 1.2%, to settle at $17.414 an ounce. Silver futures traded between $17.28 and $17.68. They declined 0.5% on Wednesday, gained 0.7% on Tuesday — ending at their best price since April 24, and moved up 0.3% in their start to the week on Monday.

In rounding out precious metals dealings:

  • July platinum fell $9.50, or 1%, to $938.10 an ounce, ranging from $935.50 to $949.90.

  • Palladium for September delivery jumped $18.30, or 2.2%, to $846.50 an ounce, trading between $826.75 and $851.25.

London Precious Metals Prices

In comparing earlier fixed London gold and silver prices from Wednesday PM to Thursday PM:

  • Gold declined $17.90, or 1.4%, to $1,273.10 an ounce.
  • Silver was unchanged at $17.60 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. 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 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

 

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