Gold Ends at 1-Week High, Silver Settles at 7-Week High

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

silver bars, 3 and 1

Silver futures advanced 0.7% on Thursday, June 7, ending at a seven-week high

On Thursday, and for a second time this week, precious metals futures ended divided with gold and silver higher and platinum and palladium lower. Silver scored a seven-week high while gold ended at a one-week high.

Gold for August delivery gained $1.60, 0.1%, to settle at $1,303 an ounce on the Comex division of the New York Mercantile Exchange. The finish is the highest since Thursday of last week.

"The yellow metal continues to trade in a very narrow range between $1,290 and $1,307 established in recent weeks and has surprisingly remained largely unfazed by the latest pullback in the U.S. dollar," MarketWatch quoted Marios Hadjikyriacos, a strategist at brokerage XM.

Gold futures ranged from a low of $1,299 to a high of $1,307.80. They shed less than 0.1% on Wednesday, advanced 0.4% on Tuesday, and dipped 0.2% on Monday, ending at their lowest price since May 23.

Silver for July delivery rose 12.1 cents, or 0.7%, to settle at $16.815 an ounce — its best close since April 20. Silver futures traded between $16.50 and $16.77. They moved up 0.9% on Wednesday, rose 0.7% on Tuesday and declined less than 0.1% on Monday.

In other precious metals futures:

  • July platinum declined $7.30, or 0.8%, to $900.30 an ounce, ranging from $898.50 to $910.50.

  • Palladium for September delivery fell $5.60, or 0.6%, to $1,009.60 an ounce, trading between $1,005 and $1,026.

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. 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)
Thursday 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 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 0 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 0 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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