Precious Metals Little Changed Monday, May 7

by CoinNews.net on May 7, 2018 · 0 comments

3 Bullion Bars

Gold futures shed 60 cents on Monday, May 7

Precious metals futures were divided on Monday — though little changed overall — with platinum and palladium higher and gold and silver lower. Silver’s loss was its first in four sessions while gold broke its string of two gains in a row.

Gold for June delivery dipped 60 cents, or less than 0.1%, to end at $1,314.10 an ounce on the Comex division of the New York Mercantile Exchange.

"Dollar strength has been the most persistent headwind for gold in recent weeks," Peter Grant, a vice president at Zaner Precious Metals, told MarketWatch.

The yellow metal "has displayed a modicum of resilience over the last several sessions, holding last week’s low at 1,300.67, even as the dollar index set new 4-month highs," he said. 

Gold futures ranged from a low of $1,310.60 to a high of $1,320.10. They fell 0.7% last week for their third straight weekly decline.

Silver for July delivery shed 2.4 cents, or 0.2%, to finish at $16.495 an ounce. Silver futures traded between $16.43 and $16.60. They gained 0.7% last week.

In other precious metals futures prices on Monday:

  • July platinum added $3, or 0.3%, to $913.30 an ounce, ranging from $910.40 to $920.

  • Palladium for June delivery added $4.85, or 0.5%, to $962.10 an ounce, trading between $960.60 and $973.90.

Last week, platinum fell 0.7% and palladium lost 0.6%.

London Precious Metals Prices

UK markets were closed for a bank holiday. On Friday, they registered losses with:

  • Gold down $5.65, or 0.4%, to $1,309.40 an ounce.
  • Silver down 5 cents, or 0.3%, to $16.415 an ounce.
  • Platinum down $1, or 0.1%, to $901 an ounce.
  • Palladium down $8, or 0.8%, to $963 an ounce.

Last week, LBMA metal prices posted losses of 0.9% for gold, 0.7% for silver, 1.1% for platinum and 2% for palladium.

US Mint Bullion Sales in 2018

United States Mint bullion coins have yet to log gains in May. Below is a sales breakdown of U.S. Mint bullion products with columns listing the number of coins sold during varying periods.

US Mint Bullion Sales (# of coins)
Monday / May Last Week March April 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 20,000
$50 American Eagle 1 Oz Gold Coin 0 500 2,500 4,000 47,500
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 0 16,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 0 26,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 10,000 5,000 100,000
$50 American Buffalo 1 Oz Gold Coin 0 500 1,000 2,000 30,500
$1 American Eagle 1 Oz Silver Coin 0 230,000 915,000 915,000 6,007,500
Pictured Rocks 5 Oz Silver Coin 0 0 10,000 0 30,000
Apostle Islands 5 Oz Silver Coin 0 0 N/A 30,000 30,000

 

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