Gold and Silver Prices Rise for Third Day

by CoinNews.net on July 12, 2017 · 0 comments

American Eagle silver coins, bullion gold bars, money

Precious metals futures posted increases ranging from 0.9% for silver to 2.3% for platinum

Gold and silver futures extended their gains to three straight days on Wednesday, boosted on dovish read remarks by Federal Reserve Chair Janet Yellen.

Gold for August delivery gained $4.40, or 0.4%, to settle at $1,219.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Federal Reserve Chair Janet Yellen on Wednesday sounded a more dovish tone on U.S. monetary policy. That ‘wrong-footed’ many in the marketplace and was modestly supportive for the gold market," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report. "After a recent beat-down that dropped prices to a four-month low on Monday, the safe-haven metal was also due for a short-covering and bargain-hunting bounce."

Gold futures ranged from a low of $1,212.50 to a high of $1,225.20. They inched up 0.1% in the previous session and climbed 0.3% in their start to the trading week on Monday. On Friday, they settled at their lowest point since March 15.

Silver for September delivery tacked on 14.2 cents, or 0.9%, to settle at $15.887 an ounce. Silver futures traded between $15.71 and $16. They advanced 0.7% on Tuesday and rose 1.3% on Monday. They closed on Friday at their worst level since April 8, 2016.

In PGM futures on Wednesday:

  • October platinum rallied $20.30, or 2.3%, to $919 an ounce, ranging from $902.50 to $924.30.

  • Palladium for September added $14.70, or 1.7%, to $861.55 an ounce, trading between $848.25 and $865.70.

London Precious Metals Prices

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

  • Gold gained $7.75, or 0.6%, to 1,218.80 an ounce.
  • Silver jumped 32 cents, or 2.1%, to $15.83 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 moved up by 1,500 ounces in gold coins and by 300,000 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)
Wednesday Last Week This Week June July YTD
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 500 1,500 5,500 4,000 7,000 148,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 0 0 27,000
$10 American Eagle 1/4 Oz Gold Coin 0 4,000 0 0 4,000 52,000
$5 American Eagle 1/10 Oz Gold Coin 5,000 15,000 10,000 20,000 25,000 285,000
$50 American Buffalo 1 Oz Gold Coin 500 1,000 1,500 2,000 2,500 68,500
$1 American Eagle 1 Oz Silver Coin 300,000 320,000 970,000 986,000 1,290,000 13,523,500
2017 Effigy Mounds 5 Oz Silver Coin 0 0 0 8,800 0 35,000
2017 Frederick Douglass 5 Oz Silver Coin 0 0 0 0 0 20,000
2017 Ozark Riverways 5 Oz Silver Coin 0 0 0 20,000 0 20,000

 

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