Precious Metals Decline Monday, June 25; Gold Logs New 2018 Low

by CoinNews.net on June 25, 2018 · 0 comments

Gold bullion and nuggets

Losses in precious metals futures ranged from 0.1% for gold and 1.2% for palladium

Precious metals futures logged declines on Monday. Gold slipped a modest 0.1% but ended at a fresh low for the year.

Gold for August delivery fell $1.80 to settle at $1,268.90 an ounce on the Comex division of the New York Mercantile Exchange. The settlement is the lowest since Dec. 19.

The "near-term path of least resistance is still lower for gold, but a spike in volatility due to trade concerns could easily see futures run back towards $1,300," MarketWatch quoted Tyler Richey, co-editor of the Sevens Report.

Gold futures ranged from a low of $1,265.50 to a high of $1,274.40. They declined 0.6% last week.

Meanwhile, silver for July delivery lost 13.1 cents, or 0.8%, to close at $16.328 an ounce. Silver futures traded between $16.29 and $16.49. They dipped 0.1% last week.

In other precious metals futures on Monday:

  • July platinum shed $4.50, or 0.5%, to $868.80 an ounce, ranging from $867.20 to $881.50.

  • Palladium for September delivery fell $11, or 1.2%, to $935.40 an ounce, trading between $932.50 and $954.30.

Last week, platinum fell 1.6% and palladium tumbled 3.6%.

London Precious Metals Prices

LBMA bullion prices are available on the LBMA website with a delay of midnight. In LBMA results for the week, losses reached 1.3% for gold, 4.6% for silver, 3.5% for platinum, and 3.9% for palladium.

US Mint Bullion Sales in 2018

United States Mint bullion sales were unchanged Monday. 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 Last Week May June 2018 Sales
$100 American Eagle 1 Oz Platinum Coin 0 0 10,000 0 30,000
$50 American Eagle 1 Oz Gold Coin 0 0 18,500 11,000 77,000
$25 American Eagle 1/2 Oz Gold Coin 0 0 0 1,000 17,000
$10 American Eagle 1/4 Oz Gold Coin 0 2,000 18,000 4,000 48,000
$5 American Eagle 1/10 Oz Gold Coin 0 5,000 10,000 10,000 120,000
$50 American Buffalo 1 Oz Gold Coin 0 1,000 16,500 6,000 53,000
$1 American Eagle 1 Oz Silver Coin 0 215,000 380,000 340,000 6,727,500
Pictured Rocks 5 Oz Silver Coin 0 0 0 0 30,000
Apostle Islands 5 Oz Silver Coin 0 0 0 0 30,000
Voyageurs 5 Oz Silver Coin 0 28,900 0 28,900 28,900

 

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