Gold Dips, Silver Ends Near 4-Week High

by CoinNews.net on June 6, 2018 · 0 comments

Several 999.9 gold bullion bars

In futures Wednesday, June 6, gold shed less than 0.1% while silver, platinum and palladium grew 0.9%, 0.7% and 3%

Aside from gold which declined modestly, precious metals futures advanced Wednesday. Gold’s loss was its fourth in five sessions. Silver, meanwhile, climbed for a second day in a row and closed at an almost four-week high.

Gold for August delivery shed 80 cents, or less than 0.1%, to settle at $1,301.40 an ounce on the Comex division of the New York Mercantile Exchange.

"Although global trade fears remain a dominant market theme, the yellow metal clearly needs a fresh catalyst to accelerate the flight to safety," MarketWatch quoted Lukman Otunuga, research analyst at FXTM, in a note. 

Gold futures ranged from a low of $1,297.70 to a high of $1,306.10. They added 0.4% on Tuesday and dipped 0.2% on Monday, ending at their lowest price since May 23.

Silver for July delivery tacked on 15.1 cents, or 0.9%, to settle at $16.694 an ounce — its best close since May 11. Silver futures traded between $16.50 and $16.77. They rose 0.7% on Tuesday and declined less than 0.1% on Monday.

In PGM futures on Wednesday:

  • July platinum gained $6.30, or 0.7%, to $907.60 an ounce, ranging from $900.80 to $909.10.

  • Palladium for September delivery rallied $29.50, or 3%, to $1,015.20 an ounce, trading between $982.70 and $1,019.30.

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 moved up by a combined 6,000 ounces in American Eagle and Buffalo gold coins and by 50,000 ounces in American Silver Eagles.

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)
Wednesday 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 5,500 6,000 5,500 4,000 18,500 71,500
$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 5,000 0 5,000 5,000 10,000 115,000
$50 American Buffalo 1 Oz Gold Coin 0 0 5,000 2,000 16,500 52,000
$1 American Eagle 1 Oz Silver Coin 50,000 0 100,000 915,000 380,000 6,487,500
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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