Gold Slides 0.8% for First Loss in Four Sessions

by CoinNews.net on June 26, 2017 · 0 comments

One Gold Bar

Precious metals futures ended mixed on Monday, June 26

Gold, silver and platinum futures closed lower in their start to the new trading week on Monday. Gold’s loss marked its first in four sessions.

Gold for August delivery dropped $10, or 0.8%, to settle at $1,246.40 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since Wednesday.

"Positive trader and investor attitudes regarding the general marketplace to start the trading week helped to pressure the safe-haven metal," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

Gold futures ranged from a low of $1,236.50 to a high of 1,259. They ended little changed last week.

Meanwhile, silver for July delivery fell 7.5 cents, or 0.5%, to settle at $16.572 an ounce. Silver futures traded between $16.22 and $16.75. Last week, they also ended about flat.

In other precious futures prices on Monday:

  • July platinum declined $12.80, or 1.4%, to $916.60 an ounce, ranging from $912.10 to $930.30.

  • Palladium for September delivery added $7.30, or 0.9%, to $863.95 an ounce, trading between $845.40 and $864.60.

The two metals were divided last week with platinum rising 0.3% and palladium falling 1%.

London Precious Metals Prices

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

  • Gold declined $10.45, or 0.8%, to $1,245.25 an ounce.
  • Silver fell 18 cents, or 1.1%, to $16.53 an ounce.

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

Last week in LBMA prices, silver fell 0.3% while the other metal posted gains of 0.02% for gold, 0.4% for platinum and 2% for palladium.

US Mint Bullion Sales in 2017

U.S. Mint bullion sales advanced by 1,500 ounces in gold coins and 205,000 ounces in silver coins. 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 Last Week May June YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 500 2,000 10,000 3,500 140,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 2,000 0 27,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 2,000 0 48,000
$5 American Eagle 1/10 Oz Gold Coin 10,000 0 30,000 20,000 260,000
$50 American Buffalo 1 Oz Gold Coin 500 0 5,000 1,500 65,500
$1 American Eagle 1 Oz Silver Coin 205,000 272,000 2,455,000 911,000 12,158,500
2017 Effigy Mounds 5 Oz Silver Coin 0 6,300 5,600 8,800 35,000
2017 Frederick Douglass 5 Oz Silver Coin 0 0 2,400 0 20,000
2017 Ozark Riverways 5 Oz Silver Coin 0 0 N/A/ 20,000 20,000

 

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