Gold Rises Modestly for Second Day

by CoinNews.net on June 28, 2017 · 0 comments

Gold and Silver Bullion - Bars and Coins

Precious metals futures ended mixed Wednesday, June 28

For a second straight session Wednesday, gold, silver and platinum advanced while palladium declined. Overall, the metals logged little change.

Gold for August delivery added $2.20 cents, or 0.2%, to settle at $1,249.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Gold prices ended the U.S. day session with minor gains Wednesday, boosted in part by the sharp drop in the U.S. dollar index the past two days that pushed it to a seven-month today," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "Some short covering in the futures market and perceived value-buying in the cash market were featured again today, after gold and silver prices hit multi-week lows earlier this week."

Gold futures ranged from a low of $1,246.70 to a high of 1,255.70. They edged up 0.04% on Tuesday and slipped 0.8% on Monday.

Meanwhile, silver for July delivery gained 13.9 cents, or 0.8%, to settle at $16.727 an ounce. Silver futures traded between $16.61 and $16.83. They rose 0.1% in the previous session and fell 0.5% in their start to the week on Monday.

In PGM futures on Wednesday:

  • July platinum added $3, or 0.3%, to $921.70 an ounce, ranging from $916.60 to $926.30.

  • Palladium for September delivery declined $3.75, or 0.4%, to $854.60 an ounce, trading between $851.40 and $863.70.

London Precious Metals Prices

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

  • Gold fell $1.55, or 0.1%, to $1,248 an ounce.
  • Silver rose 12 cents, or 0.7%, to $16.78 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 have been unchanged since their gains on Monday. 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)
Wednesday Last Week This Week May June YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 2,000 500 10,000 3,500 140,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 2,000 0 27,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 2,000 0 48,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 10,000 30,000 20,000 260,000
$50 American Buffalo 1 Oz Gold Coin 0 0 500 5,000 1,500 65,500
$1 American Eagle 1 Oz Silver Coin 0 272,000 205,000 2,455,000 911,000 12,158,500
2017 Effigy Mounds 5 Oz Silver Coin 0 6,300 0 5,600 8,800 35,000
2017 Frederick Douglass 5 Oz Silver Coin 0 0 0 2,400 0 20,000
2017 Ozark Riverways 5 Oz Silver Coin 0 0 0 N/A/ 20,000 20,000

 

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