Gold and Silver Make First Gains in Four Sessions

by CoinNews.net on June 5, 2018 · 0 comments

999.9 Fine Gold Bars

In futures trading Tuesday, June 5, gold rose 0.4% and silver climbed 0.7%

Precious metals futures finished divided Tuesday with gold and silver higher and platinum and palladium lower. The gains in gold and silver were their first in four sessions. Gold’s move brought it up from an almost two-week low and back above $13,000 an ounce for the first time since Thursday.

Gold for August delivery rose $4.90, or 0.4%, to settle at $1,302.20 an ounce on the Comex division of the New York Mercantile Exchange.

 "Some short covering in the futures market and bargain hunting in the cash market were featured, following recent selling pressure," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a report.

"The lack of risk aversion in the marketplace at present has been bearish for safe-haven gold and silver markets," Wyckoff added

Gold futures ranged from a low of $1,293.50 to a high of $1,304.80. They dipped 0.2% on Monday, ending at their lowest price since May 23.

Silver for July delivery advanced 11.2 cents, or 0.7%, to settle at $16.543 an ounce. Silver futures traded between $16.37 and $16.55. They declined less than 0.1% on Monday.

In rounding out precious metals futures dealings on Tuesday:

  • July platinum lost $2.20, or 0.2%, to $901.30 an ounce, ranging from $892.70 to $904.60.

  • Palladium for September delivery declined $8.60, or 0.9%, to $985.70 an ounce, trading between $972.40 and $994.70.

London Precious Metals Prices

LBMA bullion prices are available on the LBMA website with a delay of midnight.

US Mint Bullion Sales in 2018

United States Mint bullion sales were unchanged as of 3:22 p.m. ET. 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)
Tuesday Last Week This Week / June April May 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 0 0 10,000 30,000
$50 American Eagle 1 Oz Gold Coin 0 6,000 0 4,000 18,500 66,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 0 0 16,000
$10 American Eagle 1/4 Oz Gold Coin 0 0 0 0 18,000 44,000
$5 American Eagle 1/10 Oz Gold Coin 0 0 0 5,000 10,000 110,000
$50 American Buffalo 1 Oz Gold Coin 0 0 5,000 2,000 16,500 52,000
$1 American Eagle 1 Oz Silver Coin 0 0 50,000 915,000 380,000 6,437,500
Pictured Rocks 5 Oz Silver Coin 0 0 0 0 0 30,000
Apostle Islands 5 Oz Silver Coin 0 0 0 30,000 0 30,000

 

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